“From a strategic point of view for TECH5, uqudo is a great partner for the integration of both companies’ offerings to create unparalleled digital KYC and National Identity programs in the Middle East, Africa, and other regions.” – Rob Haslam, Strategic Advisor, TECH5
TECH5 has announced a strategic investment in Uqudo, a Dubai-based digital identity verification startup, as part of an early investment round.
The companies had previously worked together – alongside iLabs Technologies – on a COVID-19 immunity credential called OpenGate early in the pandemic. Now, Uqudo offers a digital identity platform for onboarding and authentication that features TECH5’s biometric technologies, including liveness detection. It also supports document scanning and NFC reading for government-issued IDs and passports.
Uqudo will use the new strategic funding to develop and launch products tailored toward the Middle East and Africa regions in collaboration with TECH5.
“We are delighted to have TECH5 as an investor and a partner and believe that our collaboration and joint technology offering will bring wide expertise and innovative tools for biometric onboarding, verification, and digital identity management to the market,” said Uqudo founder and CEO Mohamed Fagiri.
For TECH5, meanwhile, the partnership continues to represent an opportunity to further extend its presence globally. “From a strategic point of view for TECH5, uqudo is a great partner for the integration of both companies’ offerings to create unparalleled digital KYC and National Identity programs in the Middle East, Africa, and other regions,” explained TECH5 Strategic Advisor Rob Haslam.
The companies’ announcement went on to explain that beyond the Middle East and Africa, their partnership will “to target the wider EMEA geography in 2023”, with a number of distinct sectors in their sights, including financial services, insurance, travel, tourism, and the public sector.
News of the strategic investment comes after TECH5’s launch of a new SDK aimed at bringing its facial recognition technology to web interfaces, and the company’s disclosure of impressive results in recent testing by the National Institute for Standards and Technology.
December 16, 2022 – by Alex Perala