VeryAI, which is developing a palm-based identity verification platform, has raised $10 million in seed funding.

Axios recently reported that Polychain Capital led the investment.

The company said that as AI-generated spoofing, a fraud technique that forges identities or data to deceive systems or people, becomes cheaper and more sophisticated, finance apps and exchanges face bot accounts and the burden of multi-factor authentication.

VeryAI is focusing on solving these problems.

When users scan their palms with a standard smartphone camera in a partner app, the VeryAI platform analyzes palm wrinkles and lines. The company said the analyzable surface area is broader than a fingerprint.

The VeryAI system also asks users to make random hand movements to verify that a real person is present.

VeryAI stressed that, unlike hardware-based biometric authentication systems that require a dedicated scanner, partners can apply it directly to existing mobile apps through a software development kit.

VeryAI is initially focusing on targeting cryptocurrency platforms that are heavily exposed to fraud threats. It plans to expand partner integrations and introduce additional fraud-detection tools beyond palm authentication.