Foxconn Technology Group will invest $2 million in Taiwan-based IT security startup AirSig. As a result of the transaction, Foxconn will acquire a 10 percent stake in AirSig.
September 4, 2014, Taipei, Taiwan] Taiwanese startup AirSig announced today that Foxconn Technology Group will invest USD2 million to acquire a 10 percent stake in AirSig and join the company’s Board of Directors, valuing AirSig at USD20 million. The partnership will promote greater collaboration between the two companies in developing cutting-edge technologies. AirSig’s innovative air signature and writing technology – which can accurately authenticate a user’s identity and command – has been widely applied in mobile devices, mobile payment and other Internet of Things platforms.
AirSig’s technology enables the mobile phone to be transformed into a pen and the automatic verification of the user’s handwriting when the phone is used to “write” in the air. For example, when the screen is locked, the user can be verified and gain access to a mail application by writing the word “mail” in the air with the mobile phone, without having to memorize or type a password. Should a third-party attempt to input the user’s signature using this process, AirSig will recognize the different handwriting and deny access. Compared with other technologies such as fingerprint, facial or gesture recognition, AirSig’s air signature technology is easier to use at lower cost, with greater efficiency, and across a wider range of applications.
“AirSig’s technology is highly-innovative, of excellent quality, and has wide applications, creating immense opportunities for imagination. We are confident that this technology can change lifestyles in the coming years. Foxconn’s investment, and the strategic value of our companies’ further cooperation, will significantly accelerate our development, and potentially drive the application of Taiwan’s high-technology standards and solutions around the world,” said Pokai Chen, CEO of AirSig.
Recognizing the potential of AirSig’s technology, Foxconn has invested in the young company, which was set up in June 2014, with the objective of generating momentum and positive impact on the long-term business growth and operations of AirSig.
Another advantage of AirSig’s air signature solution is that identity authentication and user command can be accomplished in one action. For instance, when AirSig technology is applied in a smart home, the user only needs to write “open” in front of the door to open the door, or turn on his or her favorite television channel by writing “TV” in the living room. By writing “pay” in front of a cash register, the identity of the user can be recognized and payment processed through the mobile phone. In the Internet of Things era where many devices and appliances do not have input features such as touchscreen keyboards, AirSig presents an excellent interface for human and machine interaction.
AirSig Inc. is a Taiwanese startup established in June this year. In June, its innovative Air Signature technology was named one of four finalists in the RSA Contest, one of the most prestigious contests in the IT security industry globally. AirSig was also the winner in the startup APEC Challenge 2014 in August. Pokai Chen, Founder and CEO of AirSig, is completing a PhD in Computer Science at the National Chiao Tung University, while the company’s other co-founders hold Masters degrees in computer science from New York University and Syracuse University. AirSig’s co-founders have held positions in leading international companies including Trend Micro, Asus, Acer and Inventec, with more than 35 years of experience in the IT security industry and 15 years of international marketing and business experience. The team has strong expertise and extensive industry experience, holding advanced international IT security certificates including CISSP and CEH.