Warwick Warp is delighted to announce that it has secured funding worth £ 500,000 to continue its research and development into new technology for biometric identification.

The new capital has been secured from Synergis Technologies and Mathematical Capital, who both invest in early-stage technologies, together with a sizeable donation from the Minerva Business Angel Network which is based at the University of Warwick Science Park.

The global market for biometrics is fast growing and expected to reach around $6 million by 2010. The patented Warwick Warp technology is expected to make a significant contribution to the market in the coming years, due to the innovative approach the company has developed.

Russell Munslow, of the University of Warwick Science Park, speaking on behalf of the Minerva Business Angel Network, said "Minerva was set up to help young or established companies such as Warwick Warp gain investment. We bring together potential investors and small and medium sized companies that need capital to unlock their growth. Warwick Warp's potential is clear for all to see and that is why the firm has secured such an exciting level of investment."