Wearable ring Token raises $5M Series A: Enables contactless access to things and services

Token, a wearable ring that lets users make contactless transactions at millions of merchant locations raised a $ 5M Series A investment, bringing Token’s total funding to $ 7M. Investors include New York Ventures, Blockchange Ventures led by Ken Seiff and the VC fund Neo. The startup will use the funding proceeds to fine-tune its go-to-market efforts, hiring in in Rochester and New York City and forge partnerships.

The ring essentially uses a fingerprint sensor on the inside of the ring that scans users’ finger as they put it on to unlock things. Some of Token’s popular use cases are using the ring to log into Windows 10, or using it to access things across digital and physical touchpoints. The device combines 2FA (two-factor authentication) since it proves possession of the device along with the biometric second factor. Customers can expect using it instead of passwords, house key, credit card, car key, access badge and transit card.

“As a team, we are focused on making smart, elevated lifestyle accessories that give you complete control over your identity in a world where that is becoming harder (yet more critical) to do every day.” wrote Melanie Shapiro, CEO, and co-founder of Token

Key features of Token ring are internet connectivity via Bluetooth and NFC, waterproof body, and a two week battery life. It is currently being sold at $ 249 and comes with a USB inductive charger.

Postscapes: Tracking the Internet of Things

Simple Token ICO picks up 125 percent of target in 12 days

Simple Token — the platform that enables mainstream companies to easily launch their own cryptocurrencies on a blockchain, announced that it has sold more than 125% of its sales target in less than two weeks of the token sale. The Simple Token sale is live now at sale.simpletoken.org and lasts until 1 December, 2017 or when the hard cap of 240 million Simple Tokens are sold. Over 4100 persons participated in the token sale already. Simple Token has taken a unique community-first approach to their token sale, providing the entire community with bonuses the more tokens are sold. ST Target: When…

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New Token Ring uses fingerprint reader, Bluetooth to securely authenticate wearer

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A new ring called Token embeds Bluetooth and a fingerprint reader, and promises to enhance biometric authentication with compatibility across a large array of existing technologies.
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