Unibeam announced a $6 million seed round led by NFX, with participation from AnD Ventures, aiming to revolutionize the status quo in digital authentication. At a time when seamless connectivity meets rising concerns about fraud, Unibeam is proposing a solution that addresses vulnerabilities in identity verification. By binding cryptographic keys to SIM and eSIM chips already in mobile devices, the startup offers a more secure and potentially unspoofable login experience.
With traditional SMS-based one-time passwords increasingly under scrutiny, Unibeam’s approach arrives at a critical moment. Their solution removes passwords, codes, and authentication apps entirely. Instead, a single tap can confirm identity thanks to the collaboration between secure chip identifiers and device-level signals.
The SIM-Backed Authentication Advantage
SIM-swap scams, where criminals hijack a user’s phone number to intercept security messages, are on a significant rise. In the United Kingdom, cases increased by 1,055%, climbing from 289 in 2023 to nearly 3,000 in 2024. That surge has fueled enterprise-level attacks, such as those on Marks & Spencer and Co-op. In the United States, the FBI reported considerable consumer losses of $48.8 million in 2023 due to SIM swapping.
Meanwhile, identity fraud at large has reached substantial levels. Global cases have escalated by approximately 12% each year since 2020, with synthetic identity fraud accounting for about 30% of all incidents. The economic toll is also significant: combined losses are projected to surpass $50 billion in 2025, with victims averaging significant individual losses.
Even more concerning: identity theft attempts are reported regularly in the U.S., with deepfakes becoming a growing contributor to fraud. Around 50% of businesses reported incidents of audio or video deepfakes in 2024, resulting in some firms incurring an average cost of nearly $450,000.
A Deterministic, Hardware-Rooted Solution
According to Gigi Levy-Weiss of NFX, “By anchoring identity to the eSIM/SIM and device, they’ve created a deterministic approach that’s difficult to spoof.” Unlike probabilistic authentication models—such as passwords, OTPs, or behavioral signals—Unibeam’s cryptographic protocol ties identity to hardware, ensuring greater certainty rather than relying on assumptions.
Founder and CEO Ran Ben-David adds: “There’s no app to download, no password to remember, no code to enter. Just instant, deterministic identity confirmation, even on the most basic phones or connected devices.” This means compatibility across smartphones, feature phones, IoT devices—any device with a SIM inside.
Telco-Grade Trust, Enterprise Scale
Unibeam’s advisory board includes former CEOs from major telecom companies such as Orange, Vodafone, SoftBank, and TIM. Their presence suggests a solid foundation for broad industry acceptance, positioning the platform with potential global interoperability.
As enterprises adopt multi-factor authentication and regulators tighten requirements, the ability to authenticate devices and transactions instantly, securely, and universally could become a significant market advantage.
A Tap Toward Trust
By raising $6 million in seed funding, Unibeam is investing in the idea that linking authentication to SIM/eSIM cryptography, rather than human fallibility, may be a viable path forward. Their tech reduces user friction and replaces it with hardware-rooted certainty, which is critical in an era of AI-driven identity threats and ongoing SIM swap fraud.
If Unibeam realizes its potential, the humble SIM card may become the backbone of frictionless, reliable digital trust, setting a new standard for authentication that is secure, simple, and integrated into every device.
Disclaimer: The content in this article is for informational purposes only. While Unibeam’s technology offers potential solutions for improving digital authentication, the claims regarding its effectiveness and security should be evaluated based on individual use cases and expert consultation. Unibeam’s product may not guarantee the complete elimination of identity fraud or SIM-swap scams. Readers are encouraged to consider all available information and seek professional advice when evaluating authentication technologies or making related decisions.
