Mantra Softech extends licence for FPC iris technology to expand into new markets

Core Insights - Fingerprint Cards AB (FPC) has announced the extension of its iris recognition software license to Mantra Softech India Private Limited, enhancing Mantra's capabilities in the Indian market and supporting its expansion into emerging markets [1][4]. Company Overview - Mantra Softech is recognized as a leader in the Indian biometrics industry, focusing on innovation and expanding its product offerings [2][8]. - The company has a valuation of $70 million and employs a team of 700 engineers and domain experts [8]. Collaboration Details - The partnership between FPC and Mantra began in 2021 with a multi-year license deal, which has now been extended to allow for broader integration of FPC's iris technology into Mantra's devices [3][4]. - The iris recognition technology from FPC is noted for its high security and convenience, capable of operating over long distances on cost-effective hardware [3]. Target Applications - The extended license will enable Mantra to utilize FPC's iris solutions in various applications, including: - Public Distribution System/NREGA for beneficiary verification [6] - Banking and financial security for transaction authentication [6] - SIM card distribution for customer verification [6] - Government and national ID systems for secure identity verification [6] - Healthcare management for access control to sensitive information [6] - Border control and immigration for traveler authentication [6]. Market Impact - The collaboration aims to enhance security solutions across multiple sectors, including airports, classrooms, and industrial environments, thereby raising the standard for trust and convenience in identity verification [5][8].