Rebranded London cybersecurity firm raises £3.8m
Cybersecurity firm Zamna has raised $5m (£3.8m) in a seed funding round.
The firm, recently rebranded from VChain Technology, offers a data verification platform connects passenger data between airlines, governments and security agencies. It claims the process, which utilises blockchain technology, can reduce the need for checks by up to 90 per cent.
It is designed to make the airport security process automated and passengers will be able to travel through the airport without needing any physical documentation or repeated ID checks.
The round was led by LocalGlobe and Oxford Capital, with participation from Seedcamp, the London Co-Investment Fund (LCIF), Telefonica, and angel investors.
International Airlines Group, an existing investor, also participated and will become Zamna's first client.
“We know that currently airlines are not able to meet the legal requirement of providing accurate data to governments around the world,” said Irra Ariella Khi, co-founder and CEO of Zamna.
“Both parties have to spend a huge amount of time and resource at the end of a journey to confirm if a passenger should be allowed into a country, or sent back if access is denied. In 2019, these decisions should be securely automated and informed by high integrity data – long before the journey even begins.”
Remus Brett, partner at LocalGlobe said: “The team at Zamna has built a platform that will play a major part in the future of travel and aviation security,”
“With passenger numbers expected to double in the next 20 years, new technology-driven solutions are the only way airlines, airports and governments will be able to cope. We’re delighted to be working with the Zamna team and believe they can play a key role in addressing these challenges.”
Remus Brett, partner at LocalGlobe added: “Zamna’s technology enables IATA members to fulfill their obligation to provide governments with consistently accurate passenger data for immigration and security threat assessment purposes.”
“This is mission critical for governments who continue to work towards meeting their ICAO Annex 9 obligations.”