Baimos Technologies, a Munich-based company specialising in secure mobile communication and authorisation management for smart devices, just announced a seven-digit investment from HCS, High-Tech Gruenderfonds and Bayern Kapital.
The fresh capital will be used to support future growth, especially regarding the company’s flagship product BlueID. Baimos Technologies, which was founded in 2006, is the developer of award winning BlueID device authentication and authorisation technology which enables objects to securely connect and interact with smartphones and smartwatches. For a real life example, make sure to watch the short video below this article.
Mr Philipp Spangenberg, Baimos Technologies’ CEO, commented: “Within the growing Internet of Things (IoT) market where objects are connected to smart devices, the BlueID technology is offering a cutting-edge security solution. We are very pleased with our partnership with HCS Beteiligungsgesellschaft and will benefit from their strategic planning and expertise. The invested funds will be allocated for further growth of the company, consequently multiplying our success.”
The mission of Baimos Technologies is to deliver trust and confidence between any object and any mobile smart device when an increasing need for a fast and secure connection between smart devices and objects becomes an everyday challenge. The BlueID product aims to be a future security stamp in IoT and reflects the recent Gartner (an American research and advisory firm providing IT-related insight) prediction that IoT will change cybersecurity forever, ultimately leading to the company’s expansion. BlueID software makes it possible to receive sensitive authorisations in a secure manner and to verify them locally and offline independent of the location and time, which makes it a first choice technology specifically for growning tech trends such as Connected Cars, Smart Home and Sharing Economy.
The strength of BlueID is its patent protected offline functionality which ensures local communication, authentication and authorisation, all within one second. BlueID provides strong security for digital keys stored on the smartphone but does not require secure elements on the smartphone side. It works seamlessly with communication standards like Bluetooth Smart, NFC, Wi-Fi and the mobile Internet which ultimately places it well in the rapidly developing IoT and M2M market.
Mr Hans-Christian Semmler, Managing Director of the HCS Beteiligungsgesellschaft GmbH, commented:“We are very optimistic about the future development of Baimos Technologies and their product BlueID in the world of IoT. We are convinced that not only a rapidly growing number of mobile applications of this technology will operate in the near future, but additionally an increasing number of individuals will have all their access permissions saved on their smartphone via BlueID “digital key ring”. With this in mind, Baimos Technologies fits perfectly into our portfolio and we are looking forward to contributing to their success.”