Blockchain startup Zamna recently raised $5 million through a seed funding round led by venture capital firms LocalGlobe and Oxford Capital for the ongoing development of the company’s airport security system.
Previously called VChain Technology, Zamna’s latest investment round was also joined by British Airways’ parent company, the International Airlines Group (IAG). IAG is one of Zamna’s existing investors and now also a commercial client of the blockchain firm, according to an October 28 report from TechCrunch.
Other investors who took part in Zamna’s recent funding round include Seedcamp, the London Co-Investment Fund (LCIF), Telefonica and several angel investors.
Established in 2016, Zamna offers a blockchain-enabled bridge for siloed biometric and security information between different airlines, government agencies and security-related companies. The technology does not require additional infrastructure developments via Zamna’s DLT platform, the company’s management explains.
Zamna co-founder and CEO Irra Ariella Khi stated:
“There is a preconception that when you arrive at the airport somehow – as if by magic – the airline knows who you are, the security agencies know who you are, and the governments of departure and destination both know [who you are]. The reality is far from this. There is no easy and secure way for airlines and government agencies to share or cross-reference your data.”
LocalGlobal partner Remus Brett mentioned in a Medium blog post that Zamna’s protocol can be integrated into several other transportation platforms, which is one of the main reasons that the firm invested in the initiative.
Brett remarked:
“There is no reason the technology cannot be extended to the rail and maritime industry or in fact any points of border control, or anywhere requiring individuals to assert their identity credentials.”