WISeKey India Joint Venture First Seed Financing Round Oversubscribed

13-Jan-2017 Intellasia | BusinessWire | 1:00 PM Print This Post

ZUG, Switzerland & GENEVA & NEW DELHI–(BUSINESS WIRE)–WISeKey International Holding Ltd (WIHN.SW) (“WISeKey”) today announced
that its first round of seed financing has been oversubscribed, raising
$1.3 million for WISeKey India, a Joint Venture established in late 2016
with leading Indian entrepreneurs to deploy WISeKey IoT and
Cybersecurity Platform to the Indian Market.

As per the terms of the Joint Venture, WISeKey India will localize
WISeKey’s Cybersecurity Platform and provide Indian customers – both
individuals and organizations – trusted identities for the Internet of
Things (IoT) objects and mobiles, enabling them to complete secure
online transactions with confidence, trust the identities of others, and
the identities of the IoT infrastructure. These transactions will run
via localized Root of Trust (“RoT”), serve the Indian Ecosystem, and
will benefit sectors such as telecom, manufacturing, retail, and
e-commerce.

The deployment of the WISeKey India platform includes the development of
a full RoT Public Key Infrastructure (“PKI”), a globally trusted
Certification Authority applicable for several major initiatives of the
Government of India, including the “Digital India Vision” campaign.
These programs will help make the country e-ready for various
e-governance applications such as the automation of income tax,
passport, corporate law, e-procurement, and contract bidding.

Under the terms of the Joint Venture, WISeKey will create a WISeKey
Cryptographic RoT in India for IoT manufacturers and chipmakers allowing
them to add digital certificates on their chips at the hardware level to
encrypt communication and authenticate devices. The first project is
already under development for the use of semiconductors IoT chips and
Asymmetric Keys to authenticate a very large number of products to be
deployed in the country.

RoT serves as a common trust anchor, which is recognized by the
operating system (“OS”) and applications, to ensure the authenticity,
confidentiality and integrity of on-line transactions. With the
Cryptographic RoT embedded on the device, the IoT product manufacturers
can use code-signing certificates and a cloud-based
signature-as-a-service to secure interactions among objects and between
objects and people.

At the heart of this dynamic joint venture initiative is the
OISTE-WISeKey Cryptographic RoT which is now featured in over 2.6
billion of the 8 billion interconnected desktops, browsers, mobile
devices, SSL certificates and IoT objects. The OISTE WISeKey
Cryptographic RoT, a pioneer in the identification of objects, is
ubiquitous and universal.

WISeKey India will also deploy a private-label mobile application and
service platform that provides Near Field Communication (NFC) payment
functions, pre-paid services capabilities, e-coupons, targeted
advertising, the management of and access to personal user data.

Carlos Moreira, Founder and CEO of WISeKey said, “We are thrilled to
close the first round of seed financing for WISeKey India to launch our
trusted IoT infrastructure. With this initiative, we will positively
affect the lives of millions of people by providing an interoperable
‘environment’ allowing identification, authentication, and authorization
for billions of objects.”

About WISeKey

WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity
company currently deploying large scale digital identity ecosystems with
a patented process. WISeKey’s Swiss based cryptographic Root of Trust
(“RoT”) provides secure authentication and identification, in both
physical and virtual environments, for the Internet of Things,
Blockchain and Artificial Intelligence. The WISeKey RoT serves as a
common trust anchor to ensure the integrity of on-line transactions
among objects and between objects and people.

To receive WISeKey’s latest news, subscribe to our Newsletter
or visit the WISeKey Investors
Corner
.

Disclaimer:

This communication expressly or implicitly contains certain
forward-looking statements concerning WISeKey International Holding Ltd
and its business. Such statements involve certain known and unknown
risks, uncertainties and other factors, which could cause the actual
results, financial condition, performance or achievements of WISeKey
International Holding Ltd to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. WISeKey International Holding Ltd is
providing this communication as of this date and does not undertake to
update any forward-looking statements contained herein as a result of
new information, future events or otherwise.

This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities, and it does not
constitute an offering prospectus within the meaning of article 652a or
article 1156 of the Swiss Code of Obligations or a listing prospectus
within the meaning of the listing rules of the SIX Swiss Exchange.
Investors must rely on their own evaluation of WISeKey and its
securities, including the merits and risks involved. Nothing contained
herein is, or shall be relied on as, a promise or representation as to
the future performance of WISeKey.

Contacts

WISeKey
Youmna Abisaleh, +41-22-594-3000
Marketing
Communications
[email protected]
or
Investor
Relations (United States)

The Equity Group, Inc.
Lena
Cati, 212-836-9611
[email protected]

 


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