“PIPA Touch” Fails To Reach Its $100,000 Goal, Will Seek Remaining Funds From Investors

“PIPA Touch” Fails To Reach Its $100,000 Goal, Will Seek Remaining Funds From Investors


Remember, PIPA Touch?

It’s an idea which was originally launched through crowd-funding site Indiegogo, and one which I personally thought had the potential to systematically change the way we authenticate ourselves going forward.

For those of you looking for the key takeaways:

PIPA Touch was essentially a smarter, more-connected cover for your iPhone, with a cloud system to back up its functionality. Its the world’s first cross-platform security solution designed specifically for mobile, and it integrates wirelessly with the devices it connects to over Bluetooth.

Looking to reach $100,000 to begin its production of the fingerprint ‘smart case’ reader, though, the team behind the project have this morning sadly announced that only 13% of its final target was reached, with the project managing to raise just $12,628 from backers.

Backers of the project, however, shouldn’t worry just yet …

“The purpose of the campaign was to highlight the issues around identity protection and the solution we believe can be applied to secure peoples identity,” the team wrote. “While we have only raised 13% of the target, we have also been approached by a number of large corporations, including international banks, who see the huge potential in our solution.”

PIPA failing to secure its wanted $100,000 in the wake of other crowd-sourced projects, (such as Pebble), which managed to raise $10 Million in just 30 days, might seem slightly unfair. However, the company hasn’t given up yet.

In fact, far from it.

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“We have to admit that this is a bit unexpected since our campaign was aimed at ordinary members of the public,” the team continued. “In this regards we did not get the scale of traffic to our campaign site, required to meet the funding from individuals.”

As for the next steps?

“We will be assessing if we will be able to raise the remaining funds from our existing investors and others who have shown interest in our project,” the company wrote, adding: “We will also asses if that funding can be raised in time to ensure we do not miss the delivery date as stated under each perk. If there is any risk that the timing of the funding will delay starting production, we will refund all our backers.”

Those out there who don’t wish to wait the further two weeks it will take for PIPA to receive the funds from Indiegogo and then decide on which path it will take, can request a refund of their pledge by emailing their request to team@pipasolutions.com.

“For those of you who wish to receive a refund regardless, we will also arrange for that. Your trust and support is more important to us than the actual funds. So please email us with your request at team@pipasolutions.com. However, it is very important to note we can only take action on this matter once we have actually received the funds from Indiegogo. This will take a minimum of 10 working days (two weeks) and up to 15 Business days (Three weeks).”

More information on Indiegogo’s refund process is available here.

I have to say that as an enthusiastic backer of this project myself, a part of me was disappointed to see it not reach its final goal. Perhaps the world just isn’t ready for cross-platform authentication?Perhaps the word about the project didn’t get out quick enough?

Whatever the cause of the project not reaching its goal, though, I for one will be waiting the fortnight to see what comes next. Being approached by international banks and high-profile investors is not something to be sniffed at, and could just see this project come to life.

We’ll be watching this project closely, and updating you accordingly.

/ PIPA Touch (Indiegogo)


The Question: Can You See Yourself Using PIPA Touch For Everyday Authentication? [dil dil=100104]