Market Insights

WISeKey gets up to $53M, DHS to handle Australia’s digital IDs – Friday Deal Book for 02/09/2018

February 9, 2018

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements from across the identity industry. Here’s a quick peek at what you need to know for the week ending Feb. 2, 2018.

WISeKey secures equity financing of up to $53M

The Swiss cybersecurity and internet of things company announced it has entered into a Standby Equity Distribution Agreement with Yorkville Advisors Global valued at up to 50 million Swiss francs, or $53.2M U.S. The financing will take place over a three-year period, and WISeKey can receive tranches of up to 5 million Swiss francs if it provides a sufficient number of Class B shares through lending. CEO Carlos Moreira said the financing will help WISeKey continue to expand its U.S. operations, aiding market penetration and revenue generation. [Read more]

DHS to build myGov IdP for Australia’s Govpass

The Department of Human Services will be the exclusive manager of digital identities for the Australian government’s decentralized Govpass identity framework. Govpass will allow individuals to choose their primary identity provider, including the Australia Post or ATO. Once created, those identities will be handled by DHS. A private beta of myGov Id is scheduled to launch later this month. [Read more]

Grab, Samsung partner on digital inclusion

The pairing will help consumers in Southeast Asia by expanding the region’s mobile payments ecosystem. Grab is the area’s most popular ride hailing service, and the deal will give more than 2.3 million drivers access to a microfinancing program that will reduce the cost of purchasing a smartphone, and also reduce maintenance costs. Riders will also have access to Samsung tablets that will serve as infotainment systems during the commute. [Read more]