Miami startup Kairos raises $1.2M in Series A funding for facial recognition software
Kairos AR, a security startup based in Miami, has landed $1.2 million in Series A funding. The said round was led by New World Angels (NWA), an investment company in Boca Raton, according to South Florida Business Journal.
The startup will use the new capital to develop its facial recognition software. According to Kairos Chief Executive Officer (CEO) Brian Brackeen, NWA also assisted in the startup's strategic planning in addition to financing Kairos, the report detailed.
Ven Velo, Trus Ventures Innovations, and Innovision Ventures also participated in the round. Under the terms of the investment deal, NWA members Bryan Abboud and Steve O'Hara have become part of the startup's board of directors, the report added.
In a news release, NWA president and co-founder Rhys L. Williams related his excitement about Kairos' project: "We believe in the company's ability to make a real difference in reducing fraud through its advanced facial recognition software."
Kairos' software also being used by other developers as a platform for building new technology, South Florida Business Journal reported.