ETUNNEL
ETUNNEL is a South Korean biometric security company founded in 2021 that builds finger vein authentication hardware, smart cards, and PKI software powered by its proprietary P2N2 AI engine, selling to governments, UN agencies, financial institutions, and enterprises.
- Company typePrivate
- Founded2021
- HeadquartersSeoul, South Korea
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What ETUNNEL does
ETUNNEL is a Seoul-headquartered biometric security company founded in 2021 that develops finger vein authentication hardware and software alongside complementary fingerprint and multimodal biometric products. Its technical core is the proprietary P2N2 AI engine, a neural-network-based biometric feature extractor that supports face, fingerprint, finger vein, palm vein, and iris recognition without modality-specific preprocessing, and which has received Korea Internet & Security Agency (KISA) certification for both its face and finger vein algorithms. The product portfolio spans finger vein scanners (ETUNNEL-ST-100V, PL-101V, SW-100V, CW-100V), fingerprint scanners (SC-100P, CC-100, CR-100), a multimodal device (IV-100M), biometric smart cards, the D.Volt hardware wallet, and PKI software (CQFramework, CQKMS, SafeICert); the technology is patented in the US, Japan, and Europe.
The company sells primarily through direct enterprise and government sales, supplemented by three channel partners: GKNOT DMCC for the Middle East, G-Knot for North America, and RaonSecure for the Korean enterprise and financial market. Revenue is generated across hardware sales, software licensing, and recurring subscription-style authentication services, with pricing handled via direct quotes to enterprise and government buyers. Its largest disclosed customer relationship is with the UN International Telecommunication Union (ITU), for which ETUNNEL is the selected supplier of next-generation biometric smart cards — a contract reported to carry potential revenue of up to $75 million over five years — alongside deployments with Busan Metropolitan City for smart-city authentication. Other engagements span WaveOn (Samsung spin-off), MetaPlanet, and DealianMeta in Web3, and an HP CEO visit at CES 2025 signals enterprise security interest.
ETUNNEL operates under a tri-CEO structure covering domestic management, technology, and overseas marketing, with reported headcount of 11–50 employees and regional entities in Dubai (GKNOT DMCC) and the US (G-Knot). In March 2026 the company completed its first acquisition — an Indian company acquired via public tender offer — to enter the Mumbai Stock Exchange market, marking a transition from organic-partner-led expansion to inorganic cross-border growth.
ETUNNEL firmographics
Firmographics- Name
- ETUNNEL
- Legal name
- 주식회사 이터널
- Website
- https://etunnel.net
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ETUNNEL is a South Korean biometric security company founded in 2021 that builds finger vein authentication hardware, smart cards, and PKI software powered by its proprietary P2N2 AI engine, selling to governments, UN agencies, financial institutions, and enterprises.
- Ownership category
- akta.pro rank
ETUNNEL industry classification
Industry- Product category
- Biometric Authentication Software
- NAICS
- Security Systems Services (except Locksmiths) (561621), Professional, Scientific, and Technical Services (54)
- SIC
- Finance Services (6199), Computer Peripheral Equipment, Nec (3577)
- akta.pro primary industry
- Identity Verification & Digital ID (IDV, eIDAS, biometrics) (FSAGAFAA)
- akta.pro secondary industries
- Digital Asset Risk, Security & Audit Tooling (Smart Contract Audit, Threat Monitoring) (FSAGAMAJ), Card Readers & Authentication Tokens (Smart Card, NFC, OTP Keys) (HDACAFAK), Digital Identity, eKYC & Borrower Verification (Lending-Focused) (FSAGAHAF), Device Fingerprinting & Behavioral Biometrics (FSAMALAL)
Keywords
Where ETUNNEL is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
ETUNNEL business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Hardware Products: Sale of biometric hardware including finger vein scanners (ETUNNEL-ST-100V, ETUNNEL-PL-101V, ETUNNEL-SW-100V, ETUNNEL-CW-100V), fingerprint scanners (ETUNNEL-SC-100P, ETUNNEL-CC-100, ETUNNEL-CR-100), multimodal devices (ETUNNEL-IV-100M), smart cards, and hardware wallets.
- Software Solutions: Licensing of software solutions including CQFramework security framework, CQKMS encryption key management, SafeICert certificate management, PC logon solutions, and ID verification solutions.
- Biometric Authentication Services: Enterprise solutions for Smart ID projects, FIDO authentication systems, and integrated security platforms for government and enterprise customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise and government direct sales |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
ETUNNEL product offering
Product offeringCore offering
ETUNNEL is a South Korean biometric security company that develops and sells finger vein and fingerprint authentication hardware (scanners, smart cards, hardware wallets), proprietary biometric AI software (the P2N2 engine), and PKI security solutions (CQFramework, CQKMS, SafeICert). Offerings are targeted at government agencies, financial institutions, and enterprises requiring non-forgeable biometric authentication integrated with certificate/key management infrastructure.
Product overview
ETUNNEL offers a comprehensive biometric security portfolio centered on finger vein authentication technology, supplemented by fingerprint and multimodal biometric hardware products. The product line includes finger vein scanners (ETUNNEL-ST-100V, PL-101V, SW-100V, CW-100V), fingerprint devices (ETUNNEL-SC-100P, CC-100, CR-100), and multimodal authentication (ETUNNEL-IV-100M). The proprietary P2N2 AI engine unifies face, fingerprint, finger vein, palm vein, and iris recognition under a single algorithm. Solutions span PC logon authentication, ID verification, smart ID systems, and digital wallets (GKNOT Wallet, D.Volt). PKI solutions include CQKMS for key management, SafeICert for certificate management, and CQFramework for web security integration. The Vein-X brand encompasses finger vein technology, while the fingerprint smart card provides government-grade biometric authentication with UN deployment.
Differentiator
Problem solved
Functional benefit
Brands
- Vein-X (베인엑스): Finger vein biometric security technology brand including authentication devices and solutions
- D.Volt (디볼트)
- P2N2
- CQFramework
Products and services
- P2N2 Integrated Biometric AI Engine Proprietary integrated biometric AI engine that powers ETUNNEL's hardware and software authentication products. Supports multiple biometric modalities including face, fingerprint, and finger vein recognition. Sold as the underlying technology platform for the company's authentication offerings.
- ETUNNEL-ST-100V Finger Vein Authentication Device Standalone finger vein biometric authentication scanner for enterprise access control and identity verification use cases. Targets government agencies, financial institutions, and corporate security environments.
- ETUNNEL-PL-101V Finger Vein Authentication Device Compact form-factor finger vein authentication device for desktop or point-of-use identity verification deployments.
- ETUNNEL-SW-100V Finger Vein Authentication Device Finger vein authentication device in a wall-mounted form factor for fixed installation at access-controlled entry points.
- ETUNNEL-CW-100V Finger Vein Authentication Device Finger vein authentication device designed for countertop or kiosk-mounted deployments such as banking teller stations or check-in counters.
- ETUNNEL-SC-100P Fingerprint Authentication Device
Quantifiable outcome
- UN ITU supplier selection with potential $75 million contract value over 5 years
- +3 more outcomes
Companies that use ETUNNEL
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
ETUNNEL technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature7 records
ETUNNEL partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- RaonSecurecoreStrategic MOU for biometric authentication platform cooperation. RaonSecure (KOSDAQ listed IT security company) serves 1000+ domestic and international customers in financial, public, and enterprise sectors. Partnership aims to commercialize finger vein authentication for multi-factor authentication, addressing account takeover and insider threat protection.
- G-Knot (US)coreNorth American market partnership with US entity G-Knot for finger vein hardware wallet distribution. Partnership led by former Cointelegraph CEO Wes Kaplan for fintech, DeFi, and DID market expansion.
- GKNOT DMCCcoreMarketing and supply partnership for global distribution. GKNOT DMCC is Dubai-based with management from IMG and ITB (global entertainment marketing agency). Partnership covers US, Europe markets with marketing professionals experienced at Dior and Calvin Klein.
- IBCT (아이비씨티)coreMOU for integrated solution development combining ETUNNEL's biometric security with IBCT's blockchain-based data security and DID (Decentralized Identifier) platform. Joint development for Web 3.0 era security solutions.
- BlockchainToday (블록체인투데이)minorMOU for global market expansion of Vein-X finger vein authentication system. BlockchainToday operates Korea's longest-running blockchain magazine with global news coverage.
- Korea Blockchain Industry Promotion AssociationminorMOU for blockchain security industry development using finger vein technology. Cooperation for legislation and adoption in government and enterprise systems.
- Busan Metropolitan CitycoreMOU for smart city security using Vein-X finger vein authentication technology. Goal of making Busan the world's safest security city and global digital finance hub.
- MetaPlanetminorNFT game usage business contract for digital asset smart watch development and ecosystem expansion using NFT game IPs.
- WaveOncoreStrategic business cooperation partnership. WaveOn is Samsung Electronics spin-off #1 company with experts from Samsung and LG. World's only 'Cool Vendor' selected by Gartner. Partnership for finger vein technology globalization combining WaveOn's wearable/AI/IoT expertise.
- DealianMeta (딜리언메타)minorStrategic business cooperation for expanding service areas combining ETUNNEL's security cloud and smart watch with DealianMeta's NFT services.
- People's Power Party 4th Industrial Revolution Special CommitteeminorMOU for security technology dissemination. Cooperation for expanding Vein-X finger vein authentication security technology.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
ETUNNEL competitors and assessment
Company assessmentEmerging players
- Zwipe: Zwipe develops biometric payment and access smart cards with integrated fingerprint sensors, closely mirroring ETUNNEL's fingerprint smart card product targeting banks and government ID programs, and competing in the same early-stage commercial deployments.
- BIO-key International: BIO-key provides biometric authentication software and hardware solutions for enterprise and government customers, including palm and fingerprint modalities that overlap with ETUNNEL's identity verification and PC logon offerings in North American enterprise and public sector accounts.
- M2SYS Technology: M2SYS delivers biometric identity management solutions including fingerprint, facial, and vein recognition, with a comparable focus on enterprise security, banking KYC, and government ID deployments that overlap ETUNNEL's customer verticals.
Direct peers
- HID Global: HID Global provides biometric authentication and physical access control solutions overlapping with ETUNNEL's enterprise security and Smart ID offerings, serving governments, corporations, and educational institutions with comparable fingerprint and multimodal biometric readers.
- Fingerprint Cards AB: Fingerprint Cards (FPC) is a Swedish biometric sensor company specializing in fingerprint authentication hardware and software, directly comparable to ETUNNEL's fingerprint scanners (ETUNNEL-SC-100P, CC-100, CR-100) and targeting similar smart card, payments, and access control use cases.
- IDEMIA: IDEMIA is a global leader in biometric identity and smart card solutions, including the F.CODE biometric payment card that directly competes with ETUNNEL's biometric smart card for government and financial services deployments.
- NEC Corporation: NEC's NeoFace facial recognition and multimodal biometric platform competes with ETUNNEL's P2N2 AI engine, particularly for government, border control, and law enforcement customers where both companies pursue large-scale identity verification deployments.
- Hitachi: Hitachi pioneered finger vein authentication with its VeinID Five product line and is the most established direct competitor to ETUNNEL's Vein-X finger vein technology, serving banking, government, and healthcare customers globally with mature, patented biometric systems.
- Fujitsu: Fujitsu's PalmSecure palm vein biometric authentication directly competes with ETUNNEL's finger vein and multimodal P2N2 offerings in banking, healthcare, and government verticals, with a large global installed base and strong APAC presence overlapping ETUNNEL's home market.
Broad incumbents
- Thales Group: Thales offers biometric identity verification, PKI, and smart card solutions through its Digital Identity & Security business, competing broadly with ETUNNEL's combined biometric + CQKMS/SafeICert stack across government, finance, and critical infrastructure customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
ETUNNEL social profiles
Digital presenceETUNNEL compliance and trust
Trust signalCompliance5 records
ETUNNEL financial estimates
Financial estimateRevenue estimate
Valuation estimate
ETUNNEL leadership team
Management profileNumber of profiles
Profiles4 records
ETUNNEL subsidiaries and ownership
Company hierarchySubsidiaries2 records
ETUNNEL funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ETUNNEL M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ETUNNEL
What does ETUNNEL do?
ETUNNEL is a South Korean biometric security company that develops and sells finger vein and fingerprint authentication hardware (scanners, smart cards, hardware wallets), proprietary biometric AI software (the P2N2 engine), and PKI security solutions (CQFramework, CQKMS, SafeICert). Offerings are targeted at government agencies, financial institutions, and enterprises requiring non-forgeable biometric authentication integrated with certificate/key management infrastructure.
Is ETUNNEL a public or private company?
ETUNNEL is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ETUNNEL founded?
ETUNNEL was founded in 2021. It employs 11 to 50 people.
Where is ETUNNEL based?
ETUNNEL is headquartered in Seoul, South Korea, in the Asia region.
How does ETUNNEL make money?
Three revenue lines are on record. Hardware Products are the primary driver. The others are software Solutions and biometric Authentication Services.
Who are ETUNNEL's main competitors?
Emerging players on record are Zwipe, BIO-key International and M2SYS Technology. Direct peers are HID Global, Fingerprint Cards AB, IDEMIA, NEC Corporation, Hitachi and Fujitsu. Thales Group is listed as a broad incumbent.
Does ETUNNEL have an API?
No public API is recorded for ETUNNEL.
What industry is ETUNNEL in?
ETUNNEL's product category is Biometric Authentication Software. Its primary akta.pro industry code is FSAGAFAA, Identity Verification & Digital ID (IDV, eIDAS, biometrics), with a secondary code of FSAGAMAJ, Digital Asset Risk, Security & Audit Tooling (Smart Contract Audit, Threat Monitoring). Its NAICS code is 561621 and its SIC code is 6199.