Enveil unveils $4M in funding, Gemalto & Austin team up on identity: Friday Deal Book for 11/10/2017

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. Here’s a quick peek at what you need to know for the week ending Nov. 10, 2017.

Enveil earns $4M from Thomson Reuters, USAA

The Baltimore-based startup also saw Bloomberg Beta and DataTribe contriute to its latest round, following a previous $1 million seed also from DataTribe, a Maryland-based tech incubator. Enveil plans to use the funding to enhance its cybersecurity platform, with the goal of selling to both commercial and government entities. The company, which has 10 employees, uses NSA technology to help operations security operate on data in the cloud, without the need for decryption. [Read more]

Gemalto, University of Texas at Austin link up on identity research and education

Digital security provider Gemalto has partnered with the Center for Identity at the University of Texas (UTCID) to aid in research and education for identity management, privacy, and security. The agreement will see the two parties focus on research in biometrics, airport security and travel, digital driver’s licenses, and identity security with mobile banking and online commerce. In particular, Gemalto hopes to highlight biometrics as a solution for identity management. [Read more]

2Keys wins Ontario’s Small Business Innovation Challenge

The Canadian cybersecurity and digital identity company was awarded funding through the program from the Ontario Centres of Excellence, on behalf of the local government. With the funding, 2Keys plans to show how Ontarians could have improved access to government services via secure, user-friendly digital experiences. The amount of funding received was not disclosed. [Read more]

Eco-friendly cryptocurrency ‘Chia’ unveiled by inventor of BitTorrent

Bram Cohen, best known as creator of notorious file sharing service BitTorrent, plans for the Chia Network’s bitcoin competitor to be based on proofs of time and storage, rather than proof of work. The bitcoin mining method consumes resources and electricity, towhich which Chia hopes to offer a green alternative. Proof of space in file storage already exists and can be used for no additional cost. And proofs of time are intended to thwart attacks that could take advantage of proofs of space. Chia has raised a seed round for hiring, but declined to give specifics, only calling it a “very hot round.” They plan to begin early sales in the second quarter of 2018, followed by the potential for a full launch by the end of the year. [Read more]