Authenteq is Capital300’s second investment of 2018, after having invested in the Prague gaming startup Gamee in October. Both Capital300 and Draper VCs contributed equal parts in the investment.

Peter Lasinger, General Partner at Capital300, said: “Several things have led to this investment. Currently, it is still a huge problem to perform authentications. This is becoming increasingly important on the web and in retail, and the costs are very high. Authenteq’s solution works fully automatically and is 10x cheaper than previous approaches, making it very attractive to all companies that want to verify their customers. In doing so, Authenteq fulfills a real need: without users entering personal data, the identity can be reliably ascertained.”