Nymi secures $20.5 mln in Series B funding led by GII Tech
Toronto-based Nymi, creator of the Nymi Band authentication device, has raised about $20.5 million (US$15 million) in a Series B financing. The round was led by Dubai's GII Tech Ventures, a new investor, and joined by Canadian venture capital firm Relay Ventures and U.S. firm Ignition Partners, which led the company's US$14 million Series A round in 2014. Founded in 2011 by CEO Karl Martin and Foteini Agrafioti, Nymi developed the Nymi Band as a wearable device that utilizes cardiac rhythms to enable continuous presence-based authentication. The company plans to use the funds raised to commercialize the technology for enterprises.
16 May 2017•3 mins read
