Deepsense, specializing in facial biometrics for security purposes, has raised € 3 million for the first time from the American fund SEAF and business angels. The Parisian startup aims to develop in a booming biometrics market.
According to a report by the private research institute Xerfi published at the end of 2018, facial biometrics will experience strong growth in Asia, the United States and Africa by 2022, compared to slower growth in Europe due to the GDPR. The international facial recognition market is also expected to generate $ 7 billion in revenue in 2024 according to a study by the agency MarketsandMarkets, published in June 2019. In this context, Deepsense is trying to extend its customer base to the international, particularly in Spain, Canada and Morocco.
Financial services in the sights
Launched in 2019 by Yassine Mountacif, the startup is developing facial recognition technology, making it possible to authenticate the identity of users and detect fraud attempts in fractions of a second. Accompanied by the French DeepTech incubator Agoranov, Deepsense is primarily aimed at financial services and banks that process sensitive data.
“We are delighted with our investment in Deepsense, which brings biometric-based identity verification technology, which is particularly relevant in a context where the Covid-19 pandemic is accelerating the digitization of public and private services », Comments Meriem Zairi, Managing Director of SEAF.
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Deepsense: the key data
Founder: Yassine Mountacif
The head office : Paris, France
Activity: facial recognition technology
Funding: 3 million euros from the American fund SEAF and business angels