Bengaluru-based digital KYC startup Veri5Digital has raised ₹14 crores in Series A funding round from Vinod Khosla-led Khosla Ventures. The startup plans to use the freshly raised capital to scale its identity solutions within India as well as build new Identity and Digital solutions.
“Veri5Digital has built innovative AI solutions around KYC and authentication which address the online, digital identity needs of companies globally,” Khosla said.
Earlier known as AadhaarBridge, the startup provides Aadhaar based e-KYC and authentication services to the government and regulated private sector. The solutions include cloud-based identification, verification, payments, signatures. Veri5 provides Aadhaar based API platform (Authentication, eKYC, eSign, eNACH, DigiLocker, BBPS, GST) that allows organizations to easily integrate Aadhaar into their existing applications without the need of a separate UIDAI license.
The startup has enabled authentication for more than 1 crore transactions for 250 businesses across industries like banking, insurance, lending, mutual fund, and other internet-based service providers.
Veri5Digital was founded by Saru Tumuluri in 2016.
Khosla Labs is a startup incubator and innovation lab focused on solving large scale problems. Through its venture capital arm, Khosla Ventures, the incubator has invested in startups like DoorDash, eGenesis, Fundera, GitLab, HackerRank, Instacart, Scribd and several other companies.