The Foxconn Technology Group has locked down 10 percent control—after writing a $2 million check—of AirSig, a Taiwanese mobile authentication startup, TechCrunch is reporting. That would place AirSig’s valuation at $20 million.
“Air Signature, AirSig’s main product, uses the g-sensors in gyroscopes in smartphones to let users unlock their devices by writing their signature in the air. The tech is available through AirSig’s app AirSign Unlock, which is available on Google Play,” the story reported. “In addition to mobile devices, Air Signature technology can also be used for e-payment and e-commerce apps, as well as smart devices.”
AirSig CEO Pokai Michael Chen said that the new funding “will be used to accelerate development of the company’s tech and its expansion into global markets,” according to the report.