Fingerprint recognition company Warwick Warp has secured £600,000 of investment to roll-out its offering to the world.
The company, a spin-out from the University of Warwick, has developed technology which is designed to help the police and security services improve the speed and accuracy with which they can match fingerprints.
Company chairman Bill Joss said: “Although current fingerprint recognition technologies can satisfactorily process good quality images, the problem with these systems lies with their inability to process poor quality prints.
“This is where we believe Warwick Warp has a unique advantage - the ability of its algorithms to extract meaningful data from poor quality images.
“This is particularly important for a large proportion of the population who are unable to give good quality fingerprints as a result of damage to their fingers.”
The company has been backed by Synergis Technologies and Mathematical Capital, both of which have strong links to the security industry.
Terry Swainbank, investment director of Synergis Technologies, said: “This is an exciting investment and we look forward to being a part of the development of this next generation in biometrics technology.
“The use of fingerprint recognition technology looks set to achieve rapid growth both in the UK and globally and there is a strong need for a system that can detect fingerprint images reliably and accurately.”
Warwick Warp was advised on the deal by accountancy firm James Cowper. Alastair Cavanagh, a partner at the firm, says that the business’ technology and its partnerships in the industry were crucial to securing the deal.
“Warwick Warp demonstrated to investors clear technical advantages that are crucial to potential customers, such those operating border controls or providing access to large public venues, who demand rapid and accurate throughput.
“The team have successfully developed key partnerships in the security sector and are well positioned to take advantage of a worldwide need.”
© Crimson Business Ltd. 2008
