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Thursday, January 31, 2013

Mobile Security Technology Company NXT-ID, Inc. Reports Funding Commitment from Connecticut Innovations

Shelton, Conn - January 31, 2013 ( mobile payment stocks newswire) NXT-ID, Inc, a mobile commerce and security technology company reports it has received $150,000 in funding commitments from Connecticut Innovations.

Connecticut Innovations (CI), the state's quasi-public authority responsible for growing Connecticut businesses through innovative financing and strategic assistance, announced this week that it has committed funding totaling $650,000 through its Pre-Seed Fund to four startup companies focused on information technology, digital media and mobile technology:
eBrevia Inc. ( Stamford, Conn.) - $150,000 funding commitment
MedAdherence™ LLC ( Norwalk, Conn.) - $200,000 funding commitment
MediaCrossing Inc. ( Stamford, Conn.) - $150,000 funding commitment
NXT-ID Inc. ( Shelton, Conn.) - $150,000 funding commitment
"These new investments reflect the strong startup activity taking place in Fairfield County," said Claire Leonardi, chief executive officer and executive director of CI. "We are excited to support these promising ventures and look forward to seeing an even stronger pipeline of startups in the area as Connecticut's new Stamford-based business accelerator, which is part of the state's Innovation Ecosystem, gets underway. Building a strong technology community in Fairfield County and throughout the state through well-placed investments is a high priority of the Malloy administration."
"We are grateful for the support of CI," said Gino Pereira, chief executive officer of NXT-ID. "CI has funded investments since 1995 solely on returns made from their prudent investments and we are proud to be among their portfolio companies.
About Connecticut Innovations Inc.
Connecticut Innovations (CI) is a quasi-public corporation providing equity, debt and bond financing and other forms of financial assistance to companies in all stages of the business life cycle, from startup to later stage. CI offers its portfolio companies strategic guidance and collaborations with partners in business, finance, education, government and nonprofit sectors. CI's initiatives are designed to grow the state's economic and technology base, and to stimulate business investments and job creation. For more information on CI, please visit .
About NXT-ID, Inc
NXT-ID, Inc.'s innovative MobileBio Ô solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio™ suite of biometric solutions that secure consumers' mobile platforms. NXT-ID is building an innovative, next generation platform using advanced biometric technology to enable secure transactions, identity management and access control via mobile and other devices in an intuitive, cost-effective and easy-to-use manner.
Gino Pereira
Chief Executive Officer
Phone: 203-242-3076;
Fax: 203-888-7399
Published at newswire 8006650411
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