Venture Profile: Veratag

Veratag exploits the natural production variation of MEMS resonators to create unique electronic identifiers that are unclonable, both in terms of physical structure and output signals. These micro-resonator structures are used to provide secure identification and authentication that cannot be rivaled using encryption techniques.

CEO: John Schneiter
Location: New York, US
Industry: Security, anti-counterfeiting
Venture is: A-Round

Veratag believes their patent pending core technology MEMflakes, is ideally suited for RFID-like applications such as identification and authentication (i.e., security devices) because MEMflakes offer an unprecedented level of security for a fraction of the cost of current “secure” RFID technologies. RFID security, at the chip level, is almost synonymous with encryption. For RFID use, encryption requires building processing power onto a chip that needs to be both lightweight and inexpensive. An RFID tag with 128-bit encryption can cost more than $1.50. In addition to the high cost, encryption slows down transaction times and encryption key management is a major problem. An ideal security protocol for RFID would require minimal space on a chip, keep costs low, provide fast read times, and provide a high level of security.

Veratag

At the TechConnect Summit June 3-5 in Boston, MA, Veratag will be seeking both funding and corporate or government partners. The company is currently seeking $500k in seed funding to finish development and customer evaluation of an alpha prototype secure RFID system based upon MEMS technology which provides unique, un-clonable identification. Additionally, Veratag is seeking government and corporate partners who may be interested in developing strategic applications that leverage our core MEMflakes technology: unique and irreproducible signatures that can used for identification and authentication applications.

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