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Gtriip receives new investment from its Series B round led by KDDI

Author : Saipriya Iyer | Published Date : 2020-02-04 

Gtriip Global, a Singapore based digital identity startup, reportedly announced that it raised new investment from a Series B funding round. While the company did not disclose the raised amount yet, it plans to use the newly raised capital to expand and establish its footprint throughout the Asia Pacific.

Japanese venture capital company, Global Brain came onboard as the latest investor through KDDI Open Innovation Fund III, which is responsible for managing the investment portfolios of KDDI, a renowned telecom operator. Other Gtriip investors include Keppel’s Kepventure and Accord Ventures.

Along with expansion in the Asia Pacific market, the startup also aims to diversify its product portfolio to enter new verticals and unveil new specialized products designed for other commercial enterprises, like visitor access and tenant access. The company also plans to onboard more engineers, developers, client success specialists, researchers, as well as sales team members.

Co-founder and Chief Technology Officer of Gtriip, Huang Siheng stated that the company works towards and believes in a future in which people would not require any access card or photo ID while they travel. The biometrics and face of customers would suffice as their identity. Once the company has this in place, geographical mobility would be seamless.

Gtriip stated that it serves more than 13,000 office access points and hotel rooms, completing more than 1 million check-ins worldwide from its patented software solution.

Apart from allocating the newly raised capital, Gtriip and KDDI Singapore have also initiated a joint operation. KDDI Singapore's comprehensive IT solutions and Gtriip's technological solutions would be combined to operate the business across several regions, which also includes Southeast Asia, by leveraging KDDI's consumer base and worldwide business development capacity.

Gtriip had earlier raised $1 million under a series A investment round from M1, a connectivity solutions provider, which further enabled the company to scale its products to be able to serve consumers across Macau and Singapore.


Source credit: https://www.techinasia.com/gtriip-funding-apac

About Author

Saipriya Iyer

Saipriya Iyer

Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i

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