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Saturday, January 22, 2022

$2.5 million to provide digital identities

IndyKite comes out from stealth with the announcement of a $2.5 million pre-seed funding round co-led by Alliance Venture and SpeedInvest.

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The company aims to provide the identity layer for the decentralised web.

IndyKite uses an open-source technology that will allow developers to map out people, devices across networks and bring personalisation and authorisation services through this data. The goal with this platform is to provide an hyper-personalized user experience while remaining privacy in a world where decentralized data, digital twins and computer visions are on the rise.

During the last decade, the digital identity market has produced a number of unicorns and multi-Billion dollar IPOs, including companies like Okta/Aurth0, Ping Identity and ForgeRock. It’s safe to expect the trend will continue.“IndyKite’s product shifts identity access management from a world full of technologies built on rigid data structures to one that can dynamically deal with data generated from billions of human and non-human entities,” said Speedinvest’s co-founder and managing partner Oliver Holle.

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