In 2002, Iron Daher, a businessman from the state of Goiás, decided to invest in what he saw as a promising business: biometrics systems. He wasn’t wrong. The global biometric sensors market is booming and is expected to continue posting terrific numbers, with a 9.6-percent compound annual growth rate between 2015 and 2023. The market was valued at USD 710 million back in 2014, a figure that will soar to USD 1.6 billion in 2023.
Mr. Daher’s startup, Griaule Biometrics, is proof of the meteoric growth in the market. Founded in 2002, the startup was incubated in 2004 by the University of Campinas, where it has been based ever since. By 2007, the company had elevated its revenue from BRL 48,000 per year to over BRL 3 million. Last year,...
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