Startups

Vinod Khosla firm invests $2 million in Bengaluru-based Veri5Digital

Vinod Khosla firm invests $2 million in Bengaluru-based Veri5Digital 1

Bengaluru: City-based identity verification and user on-boarding company Veri5Digital has raised $2 million in its Series A round from billionaire investor Vinod Khosla’s fund, Khosla Ventures.

“Veri5Digital has built innovative AI solutions around KYC and authentication which address the online, digital identity needs of companies globally,” Khosla said in a statement.

The firm, which solves issues around KYC and identity using deep tech like Artificial Intelligence, was seeded at Khosla Labs and is led by its CEO Saru Tumuluri.

For over two decades, Saru has been an entrepreneur and had returned to India from from US, as she saw great potential in legacy technologies.

She is a graduate from San Jose State University.

The firm, which founded in 2016, offers user verification technology to enterprise customers like Ola, PhonePe, RazorPay, among several others.

The firm will use the funds to scale its identity solutions for the Indian market and build new identity and Digital India related products and services.

It is also set to launch its identity-related products in the US and Asia markets.

Veri5 KYC, Veri5 Sign, Veri5 Hosted and Veri5 eNach are Veri5Digital’s products and its rivals are Yoti and eMudhra.

In India, the startup works with five digital identities – PAN, Aadhaar, driving license, passport and voter ID.

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