Intrinsic-ID Receives €5M in Funding
Intrinsic-ID, an Eindhoven, The Netherlands-based provider of security solutions, has received €5m (approximately $6.7m) in new funding.
The company intends to use the funding to expand its sales, support and engineering teams for mass scale deployment of its security IP in large new markets of mobile payments and cloud services.
Spun-out from Philips by Prime Ventures in 2008, and led by CEO Pim Tuyls, Intrinsic-ID provides security solutions based on top-level security IP and software for cloud storage, mobile payments and content protection.
The company’s technology has been licensed to a wide range of companies that incorporate the technology in Smart and SIM Cards, Automotive and Embedded Processors, Set-Top Boxes, Pay-TV, Networking & Communications, FPGA and Government applications.