Anonybit, a decentralized identity management platform, has raised USD 3 million in new funding led by JAM FINTOP, with participation from Connecticut Innovations and 4S Bay Partners. The round brings the company's total funding to USD 8 million.

AnonyBit offers a decentralized storage platform for processing of biometrics and other personal data. Its patent-pending flagship product, the Anonybit Genie, functions as a system for password-less authentication of the security credentials of employees. Built on top of a decentralized cloud platform and data vault, the solution stores biometric information and leverages multi-party computing and zero-knowledge proofs to authenticate security credentials while personal data remains encrypted.