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HomeFunding DUST Identity Secures $40 Mn Series B Funding

[Funding alert] DUST Identity Secures $40 Mn Series B Funding

The company behind the Diamond Unclonable Security Tag, DUST Identity, has partnered with Oxygen Esports and raised $40 million in Series B investment.

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Following a $40 million Series B financing headed by Castle Island Ventures and including participation from Amex Ventures, Kleiner Perkins, Airbus Ventures, 8VC, and others, the firm announced a collaboration with Oxygen Esports and the release of their mobile solution.

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By a recent collaboration deal with DUST, Oxygen Esports, one of the biggest multi-title esports companies in North America, will make use of this innovative solution.  This alliance is the result of DUST’s observation of the sports and entertainment industries’ strong interest.  Additionally, it represents DUST’s expanding dedication to helping businesses create enduring connections with fans by enabling the activation of genuine, game-used products.

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“The merchandise we sell reinforces our brand reputation and DUST’s solution is helping us protect our brand, athletes, and fans from counterfeit memorabilia,” shares Dani Marks, CMO at OXG. “We’re looking forward to working with DUST to unlock rich omnichannel experiences for fans, as we leverage their technology.”

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Of the milestones announced today, Ophir Gaathon, CEO and Co-Founder of DUST Identity, says, “People want to trust that the products they are spending their time and money on are genuine, and the foundation of that trust comes from being able to validate an item’s authenticity. Our technology provides that validation.” He continues, “DUST Identity has broadened its mission of protecting and connecting everything that matters by introducing our new mobile solution. We’re excited to utilize our funding to deliver on this mission as we bring our technology to many new industries.

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About DUST Identity

DUST Identity is the creator of the Diamond Unclonable Security Tag (DUST), a technology utilizing microscopic engineered diamonds to create an unclonable identity layer on any object. DUST Identity, established in 2018 and headquartered in Boston, was created by a team of quantum physics, nanotechnology, and cyber security experts. The company is an MIT spinoff, has participated in several DARPA programs, and is backed by Castle Island Ventures, Kleiner Perkins, Lockheed Martin Ventures, Airbus Ventures, Highland Capital Partners, New Science Ventures, 8VC, Angular Ventures, and others.

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