Futurae Technologies has raised two million francs in a financing round led by venture capital companies AXA Venture Partners and DIventures, announced a statement. Zürcher Kantonalbank and Stefan Muehlemann, founder and CEO of Loanboox also participated.
The spin-off from the Federal Institute of Technology in Zurich (ETH) is AXA Venture Partners’ first investment in Switzerland. “Switzerland has shown itself to be a forerunner in the deep tech scene, with ETH Zurich producing high quality cybersecurity technology for the global market,” commented François Robinet, Managing Partner of AXA Venture Partners and new member of the Board of Futurae Technologies.
With its multi-factor authentication methods, Futurae Technologies won over the investors. The leading product is Zero-Touch, a two-factor authentication solution that, unlike comparable password-based systems, works without any user interaction.
The Zurich startup company plans to use the new funds to accelerate its market expansion. “We see companies striving to continuously meet customers’ expectations, offer more personalized services, and improve the customer experience. IT security should not be a stumbling block but rather integrate seamlessly into the digital user journey,” commented Sandra Tobler, CEO of Futurae Technologies.
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