September 14 (SeeNews) - US-Bulgarian security technology startup Alcatraz AI said on Wednesday it raised $25 million (24.6 million euro) in a Series A funding round led by US venture capital firm Almaz Capital.
The fundraising was joined by the European Bank for Reconstruction and Development (EBRD), Bulgarian Silverline Capital, US Endeavor Catalyst and US Golden Seeds, the startup said in an emailed statement. Existing investors Ray Stata, JCI Ventures, LDV Partners and various other angel investors also took part.
Alcatraz AI additionally announced the initiation of a 1 million euro round for retail investors on investment platform SeedBlink. Investment tickets start from 2,500 euro.
The new round is part of the Series A funding allowing private investors to join venture capital and institutional investors on the same terms.
The startup plans to use the financing to accelerate international growth.
Founded in 2016, Alcatraz AI is offering an autonomous access control system using 3D facial authentication and artificial intelligence (AI). To date, the company has raised nearly $50 million to support the continued development of its product.
($ = 0.9999 euro)