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IDloop is revolutionising biometrics with its contactless 3D high-resolution fingerprint imaging technology. Their partnership with Enterprise Europe Network secured crucial funding, expanded their team, and paved the way for global success.
In the world of high-tech biometrics, the start-up IDloop is leading the way with its game-changing fingerprint imaging technology. While traditional methods require physical contact with a scanning device, this captures fingerprints without any physical touch.
Founded in Thuringia, Germany, IDloop specialises in developing advanced biometric solutions that enable the contactless capture, processing, and transformation of fingerprints. This breakthrough not only enhances security measures but also ensures compatibility with established fingerprint databases used by authorities.
IDloop emphasises that their competitive edge stems from the application of their technology, which addresses both security needs and operational efficiency. "We have developed a novel biometric 3D high-resolution imaging technology that allows the contactless capture and processing of fingerprints, making authentication and verification of identities efficient and hygienic," explained Jörg Reinhold, CEO at IDloop.
The contactless feature is particularly significant in today’s world, where sanitary measures and minimising physical contact are paramount.
Partnering with the Network
IDloop’s journey towards global recognition and market leadership was significantly boosted by their engagement with the Enterprise Europe Network. Starting at the Thuringian Regional Innovation Program demo day in February 2022, IDloop presented its pioneering technology.
Recognising its potential, the Network guided IDloop through the intricacies of securing funding through the European Innovation Council (EIC) Accelerator, a critical milestone in their growth trajectory. "I immediately recognised the disruptive technology and its high commercial potential," says Beate Schmalfuss from the Network office in Thuringia. "An intensive exchange of information with IDloop revealed that the EIC Accelerator could be a very promising choice for co-financing."
Collaboration with Enterprise Europe Network proved pivotal as IDloop navigated the complexities of funding and market readiness. With the Network's support, IDloop successfully secured a EUR 10 million grant and investment financing through the EIC Accelerator in December 2022. This funding injection enabled IDloop to expand its workforce from 4 to 25 employees, invest in state-of-the-art equipment, and scale up its operations significantly.
Since pre-financing in spring 2023, the company has invested in staff, expanded its business premises, and initiated several projects for further technological development.
Future prospects and global expansion
Looking ahead, IDloop is focused on further enhancing its technology and adapting it to diverse applications. They have already made significant strides in international markets, including visits to Japan and plans to enter the US market. This international outreach underscores IDloop’s ambition to establish itself as a global leader in biometric authentication solutions.
A blueprint for success
IDloop’s journey is a best practice example within Thuringia, highlighting the seamless integration of Enterprise Europe Network into the regional business support ecosystem. By identifying and supporting IDloop early on, the Network has played a crucial role in facilitating their successful EIC Accelerator application. "Important about this success story is that it is the first successful EIC Accelerator application in our region of Thuringia," said Schmalfuss.
IDloop’s partnership with the Network exemplifies how strategic guidance and financial support can propel innovative start-ups to achieve remarkable growth and global impact. As IDloop continues to innovate and expand, its journey serves as an inspiration to aspiring entrepreneurs and a testament to the power of collaborative networks in driving economic development and technological innovation.