Axa Venture Partners, a corporate venturing vehicle for insurance group Axa, led a series A tranche sized at more than $13.5m for Israel-based visual privacy software developer D-ID yesterday.
Omron Ventures, the investment arm of electronics producer Omron, also took part in the round, as did carmaker Hyundai Motor Company, Pitango Venture Capital, Y Combinator, AI Alliance, Maverick Ventures, Mindset Ventures and Redds Capital.
D-ID has created software that removes biometric data from photographs and videos so the individuals in them cannot be identified. It plans to use the series A proceeds for sales, marketing, research and development.
Sella Blondheim, D-ID’s co-founder and chief operating officer, said: “Raising this level of investor interest during a period of economic uncertainty speaks to the need our solutions fill.
“The convergence of increased surveillance and individual privacy protection places enterprises in a position where they must either anonymise their stored footage or risk violating privacy laws and face costly penalties.”
The company closed a $4m seed round led by Pitango Venture Capital in January 2018, with Maverick Ventures, Y Combinator, Foundation Capital, Fenox Venture Capital and two unnamed angel investors also participating.
