Alcatraz AI Rakes-in $6 Million in Funding Round

“Alcatraz AI has indicated that it will use its new capital to further refine its computer vision technology…”

Alcatraz AI Rakes-in $6 Million in Funding Round

Alcatraz AI, a biometric AI startup founded by a former Apple engineer, has brought in $6 million in venture capital through a new funding round.

The company specializes in 3D facial recognition for access control. It was founded by Vince Gaydarzhiev, who helped to develop Apple’s Face ID system, which uses 3D facial recognition technology to regulate access to Apple’s latest iPhones.

Alcatraz AI has indicated that it will use its new capital to further refine its computer vision technology, which is designed to learn employees’ faces as they scan their badges to gain access to facilities, so that within a couple of days the badges are no longer needed. The startup says its system has a False Acceptance Rate of 1:250,000, and is aiming to bring it down to 1:500,000.

Further down the line, Alcatraz AI is looking to expand the applications of its technology beyond building security and into things like ATMs and hospitals, with Gaydarzhiev telling VentureBeat that they’re even considering integrating the technology into x-ray and MRI machines in its second or third generation.

Investors in the latest funding round included Hardware Club, Hemi Ventures, Johnson Controls’ JCI Ventures, Ray Stata, and Ruvento Ventures.

Sources: VentureBeat, FinSMEs, Fortune

(Originally posted on FindBiometrics)