The Indian online platform, Veri5Digital has obtained INR 14.06 crore in Series A round, which is syndicated by US-based VC firm, Khosla Ventures, according to a media report.
It will use the funding to scale its products for the Indian market and also build new services and digital market-related products, Veri5Digital said in its statement, as reported by the daily news, VC Circle.
It is also looking to launch its services in the United States and Asian markets, Veri5Digital added.
Veri5Digital had built artificial intelligence-based know-your-customer (KYC) solutions that would help address the growing need for digital authentication by businesses, Founder of Khosla Ventures, Vinod Khosla told the daily news.
It is possible to not only deliver high assurance identity verification but also maintain the privacy of every individual, Khosla added.
Veri5Digital, earlier known as Aadhar Bridge, is a digital identity verification platform. The platform renders various services like KYC solution ( known as Veri5KYC Video) and document signature service (known as Veri5eSign).
The startup company proclaims to facilitate businesses in acquiring clients faster and further, complies with regulations, as well as offers customized services, as per the clients needs.
It seeks to address problems with technology-based solutions, Khosla Ventures told the daily news.