Pioneers of the first diamond-coated unclonable security tag for supply chain security and end-to-end tracking, DUST Identity has announced $10 million in Series A funding.
The investment will be used to accelerate product development and engineering while also fueling global go-to market strategy and deployment, DUST Identity said in a press release.
Led by Kleiner Perkins, provider of the company’s initial $2.3 million seed investment in 2018, the Series A is also backed by Airbus and Lockheed Martin, among others.
“At a time when there is a growing trust gap between manufacturers and suppliers, DUST Identity’s diamond particle tag provides a better solution for product authentication and supply chain security than existing technologies,” said Ilya Fushman, partner, Kleiner Perkins.
The funding will help DUST Identity grow its customer base across industries, including automotive, luxury goods and cosmetics as well as oil, gas and utilities.
The company’s technology addresses growing vulnerabilities and security disruptions as global value chains become more digital and dynamic.
“Today’s global value chains are facing new threats and challenges … in our view, the lack of trusted physical identity to parts and products is at the heart of a wide range of issues. We want to empower people with the ability to trust things by having a secure binding between data to the physical objects,” said Ophir Gaathon, CEO and co-founder of DUST Identity.
According to the company, the Diamond Unclonable Security Tag (DUST) is coated with tiny diamonds that allow a manufacturer or enterprise to combine high-security authentication with full lifecycle tracking.
“DUST Identity’s approach to digital and physical security is robust and unique, both unclonable and future-flexible. Providing part traceability, securing cargo and connecting the digital twin to the physical asset all call for new, innovative tools to link data to things,” said Thomas d’Halluin, managing partner, Airbus Ventures.
In 2019, DUST Identity also partnered with SAP to provide a blockchain interface to the physical world.