Following the $10 million financing round in April this year, TECH5, a specialist in biometrics and digital identity management solutions, has opened two new research and development offices in Portugal and India. This move will also allow the startup to ramp up sales and development efforts worldwide. A new partner in Pakistan was already announced today.
TECH5 developed its flagship product, T5-Digital ID, an inclusive technology solution for identity issuance and verification via a citizen’s smartphone and other authorised devices. The platform protects identity data through strong encryption and advanced liveness detection algorithms to prevent unauthorised access. With protection by design, citizen ownership, and layers of security, TECH5 technologies provide a greater level of trust between citizens, governments, and service providers.
This year, the startup has made a series of achievements, including closing a $10 million financing round and entering the Australian market. This move allowed the company to work closely with local partners and customers. TECH5 Australia has recently deployed its first government project and is now onboarding new partners in the region.
The startup is now expanding its global presence with new offices. It has established two more R&D centers, in Lisbon, Portugal and India to strengthen its main R&D center in the USA. The new offices will focus on researching and developing biometric algorithms for all three biometric modalities – face, fingerprint, and iris, and the development of new features for TECH5 verification and identification platforms and digital ID technologies.
The next steps include increasing the number of sales representatives and partners in all regions. According to Machiel van der Harst, Co-founder and CEO of TECH5, the startup will maintain its headquarters in Geneva, while the new entity in Lisbon will become the head office for the company’s management, marketing and R&D, as well as a place for partner meetings and a technology demo center.
In 2022, TECH5 closed the second round of investment. As planned, the company is using these funds to accelerate its global expansion. In the coming months, TECH5 is planning to continue expanding its presence in Africa, Latin America and Asia. Yesterday the company announced a partnership with truID to offer its solutions in Pakistan. truID is an ID verification solution provider that lets businesses verify and onboard their customers in less than 30 seconds. the company will be integrating TECH5 contactless biometric capture and liveness detection technologies into their solutions and offerings for their customers in Pakistan.
(Press release/RAN)
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