Supply chain security technology developer DUST Identity has raised $10M in Series A funding round led by Kleiner Perkins and supported by Lockheed Martin's venture capital arm, Airbus Ventures, Castle Island Ventures, New Science Ventures and Angular Ventures.
DUST Identity said Tuesday it will use the investment to expand its client base across industries, advance go-to-market strategy and expedite product development and engineering efforts.
The company's Diamond Unclonable Security Tag is a technology that uses nanoengineered diamonds to develop an unclonable identity layer on any object and works to protect assets and facilitate hardware authentication to ensure the security of the supply chain.
“The supply chain is critical for any production line, and the ability to confidently verify components is vital to that line and the customers who depend on the final product,“ said Chris Moran, vice president and general manager of Lockheed Martin Ventures.
“Investing in DUST Identity's technology offers the potential to enhance the verification and traceability process for all parts at multiple tiers in the supply chain,“ Moran added.