Bangalore based software service provider Veri5Digital has secured $2 Million in the funding round of Series A led by the Khosla ventures which are a California based Investor.
Veri5, as of now has a plan to use the funds to scale up its identity solutions for the Indian market and also to build a new identity and Digital India related products and services. It is also much more close to launching its sort of identity type of products in the Asia and US markets.
The company which is earlier founded by the name as AadhaarBridge in the year 2015, provides Digital India services for the private sector. It offers identity and some other IndiaStack solutions like the SaaS platform, with the plug n play API and SDK.
The company also revealed that its solutions have already enabled the authentication for more than 20 million transactions for more than 300 business across the industries of internet, lending, financial and service-based companies, and mutual fund houses as well.
Vinod Khosla, founder of Khosla Ventures, said, “Identity is a key underlying infrastructure that drives digital transactions globally. It is possible to not only deliver high assurance identity verification but also maintain the privacy of every individual. Veri5Digital has built innovative AI solutions around KYC and authentication, which address the online, digital identity needs of companies globally.”
Picture credits: Flipo
