TECH5 received $2.5M of investment from Yinda Infocomm through a loan convertible into shares. Today at a virtual ceremony the companies signed the investment agreement.
“For TECH5 this is the first external investment. The company has so far been fully self-financing from proceeds from projects worldwide” – says TECH5 Co-founder and CEO Machiel van der Harst. “Yinda’s investment and trust put into our company is proof and confirmation of TECH5’s technology leadership and endorsement of our growth prospects. We see synergies and leverage the strengths to take a larger market share and are looking forward to working with the Company in markets like China and Japan” – he comments.
The partnership with TECH5 will give Yinda an entry into a preferential licensing agreement to distribute and utilize TECH5’s biometric technology solutions in China and Japan. While the companies plan to focus efforts on distribution of the TECH5 technology platforms in Asia, key attention will be paid to the company’s latest innovations in Digital ID.
“While we concentrate on keeping our biometric algorithms and platform in the top tier, we are using our heritage in biometrics, applying experience and technology to a new, disruptive kind of mobile ID which, unique in the market, allows you to verify someone’s identity biometrically in a totally offline manner, with or without a smartphone” – says Rahul Parthe, Co-Founder and CTO of TECH5. “This investment will allow us to extend our research to share the latest and greatest AI-based products with our customers” – comments Mr Parthe.
This unique partnership between Swiss Identity Management solution provider TECH5, and Singapore-based SGX listed Yinda with its regional presence in Asia, will provide a gateway and expansion into Asian markets. InterBio, the Indonesia-based identity management biometric software solutions company, will take the role of system integrator for the partner projects between Yinda and TECH5. InterBio has a proven track record at executing and managing large-scale biometric solutions projects in Indonesia, and is an ideal partner for expanding the partnership and customer-based projects in Asia.
Mr. Gordon Tan, Executive Director of Yinda Infocomm, commented, “We are excited to make this investment in TECH5. Despite being a relatively young company, TECH5 has consistently ranked alongside top tier biometric technology providers with all three modalities (face, finger, iris) under one umbrella. Apart from significant technology leadership achievements, TECH5 has also shown rapid growth in market coverage in various verticals leveraging their disruptive technologies. This global experience combined with our presence will help this partnership achieve great success in the Asia region and extend to larger geographies. We strongly believe that TECH5 will be able to capitalize on the synergies in this partnership and achieve further rapid and substantial growth.”
TECH5 is an international technology company headquartered in Geneva, Switzerland, with branches in the US, Europe and Asia, dedicated to the design, development, and distribution of biometrics-driven Identity Management solutions. The company was founded by a team of seasoned industry professionals, who have been innovating in the area of multi-modal biometric matching solutions for more than 20 years. The TECH5 market focus is on high scalability products built on the experience gained by the implementation of large deployments. TECH5 target markets include Government and Private sectors with products powering Civil ID, Private ID, Law Enforcement, as well as Authentication solutions that deliver Identity assurance for use cases such as eKYC when opening a Bank account, Utility contract or Telco subscription.
E-mail: [email protected]
About Yinda Infocomm Limited
Yinda Infocomm Limited (the “Company” and together with its subsidiaries, the “Group”) is a regional integrated and innovative communications solutions and services provider with operations in Singapore and Thailand. Our capabilities include in-building coverage, outdoor mobile network infrastructure construction, telecommunications implementation, maintenance services and network planning and optimisation.
Over the years, the Group has established a firm reputation in providing consistent and reliable solutions and services. With over 20 years of experience in the telecommunications industry, the Group has completed numerous projects in Singapore, the Philippines and Thailand since 2011.
The Company was listed in August 2015 on the Catalist Board of the SGX-ST.
For more information, please visit http://yinda.com.sg