Ticto, a Belgian pioneer in security wearables, announced the closing of a 1.7 million euro funding round. In combination with the conversion of bonds issued end 2015, this results in a total capital increase of 5.5 million euros. The company plans to use the funding to expand product development and commercialization of its digital badgeholder solution.
A total of 8 parties participated in this new funding round, including the original founders, LRM, EOS Invest, and technology visionary Peter Hinssen. The company also moved its main office to Ghent and has opened a software development hub on Corda Campus to attract talented software engineers. Ticto also appointed Peter Hinssen as Board Member.
The Board of Directors now consists of founder Johan Vinckier, CEO Maarten Vandenbroucke, Stijn Bijnens, Patrick Heim, John Spesak and Peter Hinssen. “It is privilege to workwith this group of experts and industry veterans. Their experience and guidance significantly strengthens the company as we launch our flagship product the TictoBadgeholder”, says Ticto-ceo Maarten Vandenbroucke.
In February 2017, Ticto launched the Ticto Pin, a digital security pin for the market of close protection and event security. Since then, the product has been used by security teams at Hollywood’s largest award ceremony, at one of the world’s largest sports events, at several movie premieres and at conferences of tech giants in Silicon Valley.
In September 2017, the company started a series of pilot projects with its second product called the Ticto Badgeholder. This digital badgeholder targets the much broader market of security sensitive areas in private and public organizations.The product - a security wearable that allows inserting an existing access and IDcard - enables both human and automated validation of authorized presence.
An accompanying smartphone app allows for a wide range of dynamic security solutions and eventually aims for ‘frictionless access control’. Ticto plans to commercially launch the solution in January 2018.