Iris recognition solutions firm CMITech has announced that it has completed a $2.1M Series B financing round to accelerate its R&D efforts and expand its global customer support presence.Participating venture investment firms were Magellan Technology Investment of Seoul, SBI Investment Korea, and Industrial Bank of Korea Capital. Daniel An of SBI Investment has been appointed to CMITech's Board of Directors.CMITech was founded in 2009 by one of the true pioneers in the iris recognition field, Dr. JJ Chae, the company's CEO and CTO, to bring highly intuitive and cost effective iris recognition systems to the global secure digital identity market. The company's current product lines are in active usage in governmental, non-governmental organizations (NGO), and commercial entities around the world.”We are delighted to bring in this investor group to support our continued innovation in iris recognition systems,” said Phil Tusa, Chief Operating Officer of CMITech. “They share our vision to achieve technology and product design leadership in high performance, intuitive and cost effective iris imagers.”
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