Loqr just raised its first, pre-seed, investment round from REDangels. Loqr, a startup incubated at Startup Braga, is working to provide us with a secure passwordless future. Loqr has developed a simple to use, smartphone supported, authentication solution using state-of-the-art cryptography. It’s just authentication made simple!
SEE ALSO: Meet the startup that will kill your passwords
This investment will be used to speed up the development of the product, so we can expect to see more features in the upcoming months.
According to Ricardo Costa, Co-founder and CEO at Loqr:
This investment, which represent a very big step for Loqr, will give us the needed initial peace of mind to pursue our objectives. We can now, briefly, center our attention in building a more mature product with a continuous deliver of new features, meeting our user’s expectations. We will also use REDangels expertise and experience to, without compromising our present focus, better understand new vertical markets specificities and how future approach’s can be outlined.
For Pedro Bandeira, CEO at REDangels:
Loqr is addressing a huge common problem: passwords. Its innovative technology and solution will allow us to completely remove passwords out of our life equation and replace them with a more secure and simpler approach. This capacity, and needed expertise, to turn complex solutions in simple to use and user driven applications, in a dynamic paradigm-shifting market like cybersecurity, is hard to find and even to coexist. Together with the significant Loqr achievements in such a short timeframe, these were our main motivations to enter this exhilarating journey. To finish, I just want to say that we are proud to have Loqr in our growing portfolio and that we will do our best to help them in their, just started, journey.