Disruptive Technology Ventures, the Dutch investment fund established by among others the former founders of cybersecurity leader Fox-IT (Ronald Prins and Menno van der Marel), and former KPN and TNT CEO Ad Scheepbouwer, invests in HSD partner Andrupos to enable the company to go to market faster with their automated identification software for documents susceptible to fraud. DT Ventures’ investment follows an initial investment (€300,000) of proof-of-concept fund UNIIQ, and the European Union’s Fast Track to Innovation subsidy. With the investment of DT Ventures, Andrupos brings on board the necessary know-how, knowledge, and access to networks in the digital safety and security domains to successfully land prominent customers as immigration services and national banks.
HSD Office has played a small role in this investment by introducing Ronald Prins and Andrupos to each other.
The Andrupos system makes forensic document inspection future proof
The falsification of valuable documents like birth- or marriage certificates and banknotes, is an urgent and global issue. While the documents to be checked increase in both numbers and complexity, public servants still have to rely on time consuming and error prone manual inspections to distinguish authentic from false. With her automated system, Andrupos is able to transform these inspections completely, by making inspections quicker, more reliable, and better documented to ultimately find and fight cross-boundary fraud.
Ronald Prins, partner of DT Ventures: “The Andrupos team has developed a technology that has the potential to radically improve the way we deal with document fraud. We’re impressed with what has been developed thus far, and look forward to working together with the Andrupos team in bringing, what will be the new standard in document analysis technology, to the market”.
Erna Leenaars, CEO of Andrupos: “Andrupos is ready to move from the proof-of-concept phase to the next phase. To successfully do this, a capital injection alone is not sufficient: we especially need a partner with expertise and experience in this domain who wants to be involved hands-on. We feel we’ve found this partner in DT Ventures, and look forward to accelerating the business with them”.
Liduina Hammer, UNIIQ fund manager: “With Andrupos’ automated examination technology, law enforcement agencies have the means to effectively combat international document fraud. Proof-of- concept funding of UNIIQ has enabled Andrupos to validate their technology; now that the time is right to commercialize, we see DT Ventures with all its experience in the safety and security domain as the ideal follow-on investor to successfully do so”.
More information (in Dutch).