Privacy-focused Dutch Facial Recognition Startup Raises €1.3M

Dutch startup 20Face has raised €1.3 million in new funding to further develop its privacy-first facial recognition technology and expand into new markets. The investment was led by new shareholder Twinning Participaties, alongside existing shareholders Value Creation Capital and OostNL.

Founded in 2017 as a spin-off from the University of Twente, 20Face specializes in facial recognition technology that prioritizes user privacy by ensuring that personal data cannot be traced back to individuals. Its technology uses artificial intelligence and computer vision to generate encrypted codes from photos, which are then securely stored in a digital vault. Users also retain control over their data by being able to give or withdraw consent for recognition, in compliance with European privacy laws.

The company’s software has already been deployed in multiple sectors, including business centers, healthcare, and recreational facilities, where quick and secure access is required. According to 20Face’s CEO Dick Fens, the new investment will help the company establish more strategic partnerships and increase adoption of its technology in these areas.

Investors see potential in 20Face’s privacy-focused approach, especially in light of the growing demand for secure access control systems.

“We look forward to supporting them in their next phase of growth,” said Twinning Participations director Jan Voskamp. “Physical surveillance is getting more expensive and good security personnel are scarce. In this world, you no longer want to rely solely on an access card.”

The University of Twente has established itself as a leading hub for entrepreneurship in the Netherlands, having generated over 1,000 successful startups since its inception. This remarkable achievement has earned it the title of the most entrepreneurial university in the country multiple times, including in 2013, 2015, and 2017. The university sees about 15 to 25 new spin-offs each year, with its roster including notable names like Booking.com, Takeaway.com, and Demcon.

Source: Innovation Origins

–

October 2, 2024 – by the ID Tech Editorial Team