Indonesia-based digital identity provider VIDA announced a successful Series A fundraise from leading regional and global investors.
Investors in this round of financing include Alpha JWC Ventures, DST Global Partners, Breyer Capital, Future Shape, AC Ventures, and Endeavor Catalyst.
Founded in 2018 by Niki Luhur, Sati Rasuanto, and Gajendran Kandasamy, VIDA provides individuals and businesses with secure digital identity services through identity verification (e-KYC), certified electronic signatures, and strong authentication products.
VIDA is accredited by the Ministry of Communications & Information Technology of Indonesia, as well as multiple global providers.
VIDA’s products have been used by millions of users in Indonesia. Its customers include digital native technology companies from a range of industries such as financial services, e-commerce, transportation, telecommunications, and healthcare.
The startup leverages its expertise in information security to enable these companies to reduce fraud, increase trust in online transactions, and ultimately, provide their users with a safe and secure digital environment to conduct business.
This latest round of financing will allow VIDA to continue to invest in deepening its expertise in information security and machine learning, as well as intensifying its commitment to increasing public trust in digital transactions within the Indonesian digital economy.
Along with providing valuable capital for growth, a number of investors in this round of financing will play a prominent role as key advisors to VIDA. This includes luminaries such as Jim Breyer (founder & CEO Breyer Capital), and Tony Fadell (Principal at Future Shape, founder of Nest Labs, inventor of the iPod and co-inventor of the iPhone).
“We are honored to welcome our new partners, and are deeply grateful for their vote of confidence in VIDA. We will use this fundraise to continue to invest in our products and people to deliver a seamless verification and authentication experience for our customers, while also accelerating our ambitions within key growth verticals in Indonesia, specifically the financial services, e-commerce, and healthcare industries,” said VIDA founder and CEO Niki Luhur. – AsiaTechDesk.com