Additional US$10 million for TECH5
Summary
Following its US$10.5 million financing round at the end of 2021, TECH5, the biometrics-driven Identity Management solutions provider, has raised more capital from a new group of investors in high technology companies from Singapore. Identity data is protected through strong encryption, irreversible by design, and seamlessly uses advanced liveness detection algorithms to prevent unauthorised access. With the geographical expansion, TECH5 will continue developing and enhancing its products for use cases such as contactless biometric capture, identification, verification and authentication, and its digital credential platform. Machiel van der Harst, Co-Founder and CEO of TECH5, said “We are growing rapidly as a company, covering new geographies, and developing a wide network of partners across the globe. We are delighted to announce our investment in support of TECH5’s plans to build cutting edge technology and market leadership.” – comments Tan Chin Tuan, who participated in the new financing round.