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KeyMe raises $35 million to duplicate keys with AI

[2020.01.14, Tue 17:05] Normally, duplicating a key would require an expensive trip to the locksmith, but New York-based KeyMe - which was founded in 2012 by Greg Marsh, former director of finance at auto tech company Aperia Technologies - hopes to change the paradigm with a network of key-scanning kiosks. KeyMe offers key duplication and locksmith services at over 3,000 locations in retailers across 49 states, including Albertsons, Autozone, Bed Bath & Beyond, Giant Eagle, Ikea, Kmart, Kroger, Menard's Rite Aid, Sears and Kmart, and 7-Eleven. It claims its technology is unique in its ability to copy the "Majority" of office, residential, and vehicle transponder and RFID keys on the market in under 30 seconds, and in its mobile-first and cloud-based approach to digital key scanning and storage. With the KeyMe app for iOS and Android, users can save, copy, and share keys via email or text, and choose from over 100 designs. The resulting 3D image of the key's teeth is used to create a new key, which is either automatically cut on-site or shipped via standard mail within three to five days. The whole shebang costs just a fraction of what a dealer or professional locksmith might charge - about 70% less on average, or between $20 to $60. And KeyMe claims it has a "Single digit percent" error rate compared with the industry's 15% to 20%. Some experts say tech like that of KeyMe and rivals MinuteKey and My Key Machine make it too easy to copy electronic access cards, enabling criminals to clandestinely gain entrance to high-security properties. The two say that KeyMe only keeps a minimal amount of identifiable data on customers - typically email addresses, key data, and mathematical representations of fingerprints - and that legal names and mailing addresses are regularly purged after key orders ship.
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