May 20

Vida Raises Over $47 Million to Address Digital ID in Southeast Asia, Investment Market Still Hot

By Tyler Choi

Vida, an Indonesian digital identity startup, raised $47.67 million in a funding round to help it meet the rising demand for services in Southeast Asia. Businesses in digital ID and adjacent industries had already raised over $200 million since the beginning of April.

DealStreetAsia reports that London-based venture capital firm Hedosophia made a $25 million contribution to the series A round. Hedosophia is likely the lead investor, based on documents from Singapore’s Accounting and Corporate Regulatory Authority. Jakarta-based Alpha JWC Ventures added $10 million to the round, according to the filings.

Photo courtesy of Pexels.

Source: Biometric Update (link opens in a new window)

digital identity, startups