UK-based start-up Facia, which specialises in face recognition technology, has managed to raise $1.2 million funding for expansion and further technological development.
Image courtesy Facia
Facia is on a mission to revolutionise digital security by offering lightning-fast user verification, with a response time of less than one second.
The funding was led by an angel investor, Programmers Force. Mr Khurram A., CEO, Programmers Force, believes in FACIA's vision of strengthening digital security and boosting security frameworks for organisations worldwide. He said: "Facial recognition technology is the future, and we strongly believe that Facia will be one of the pioneers in this industry. We want to help them expand, enter new markets and constantly innovate their technology to achieve groundbreaking results for the future of digital security."
The funding will empower research and development initiatives and pave the way for facia's expansion into new markets, especially North America, Europe & MENA. Facia aims to become the leading provider of face recognition services globally, and to accelerate efforts towards increasing the overall accuracy and efficiency of its existing technology.
The face recognition industry will be worth $10.9 billion by 2025, growing at a CAGR of 16.6% between 2020 and 2025. This presents significant opportunities for Facia to help businesses with their customer onboarding practices.
Mujadad Naeem, CEO, Facia, said: "We have created a product that supports business globally and ensures that they provide a seamless onboarding experience to their customers. Facia will revolutionize digital security, and we are indebted to those who support us, particularly Programmers Force."
Liveness Detection Technology is a significant component of digital security. Organisations have realized the importance of introducing such a measure to combat identity theft, unauthorised access and data breaches. Facia has the fastest liveness detection system, allowing businesses to provide a seamless onboarding experience to their customers.
Facia's facial recognition technology is already helping industries worldwide. It assists businesses in streamlining their processes and boosts security measures for various industries, including finance, retail, healthcare and government services. Facia's technological capabilities allow them to devise and create solutions that are independent of any hardware requirements, and can be tailored according to the needs of a business.