Vinod Khosla-led Khosla Ventures has invested USD 2 million in the Bengaluru-based digital solutions maker Veri5 Digital.
“Veri5Digital has built innovative AI solutions around KYC and authentication which address the online, digital identity needs of companies globally,” Khosla said.
Vei5Digital will utilise the capital to rapidly scale its identity solutions for the India market as well as build new Identity and Digital India related products and services, the firm said.
Formerly known as AadhaarBridge, Veri5 is a software services provider from Khosla Labs, a Khosla Ventures backed company that offers Digital India services (Govt. and Regulated systems) for the private sector. The solution offered by the startup ranges from Identification, Verification, Payments, Signatures, India Stack Products and deploy them on cloud and on premise basis customer requirements.
Veri5 prpovides Aadhaar based API platform (Authentication, eKYC, eSign, eNACH, DigiLocker, BBPS, GST) that allows organisations to easily integrate Aadhaar into their existing applications without the need of a separate UIDAI license.
According to the company website, Veri5 solution have enabled authentication for over 10 million transactions for 250+ businesses across banking, insurance, lending, internet and service based companies, and mutual fund houses.
About Khosla Labs, it is a startup incubator and innovation lab focused on solving large scale problems driven by technology and entrepreneurial zeal.