Nymi Raises $15 Million to Improve Wearable Security Solutions

Nymi has raised $15 million in capital.

The Series B round was led by new investor GII Tech from Dubai, with participation from Nymi’s Series A investors, Relay Ventures and Ignition Partners.

“This is an important milestone for Nymi,” said Nymi founder Karl Martin.

Nymi, founded in Toronto in 2011, launched its Nymi Band wearable authenticator in 2014. The company has recently focused on Industrial Internet of Things applications and says it aims to deploy at scale later this year.

“Nymi is yet another brilliant fit for the GII Tech portfolio as it matches our core focus of seeking disruptive category creators within the dynamic technology domain,” said Vijar Parmar, Managing Partner at GII Tech Ventures.

“This new round of financing, with the support of our existing investors and the addition of GII Tech Ventures, provides us with the necessary resources to enter the next phase of scaled deployments,” added Martin.

Flush with capital, Nymi is actively hiring.