Wise AI, Malaysian artificial intelligence company specialising in eKYC and digital identities, has raised its Series A funding round. The sum was not disclosed.
Led by Malaysia Technology Development Corporation (MTDC), VentureTech SBI Sdn Bhd (VT-SBI), and Sunway Group’s Sunway iLabs Ventures, the funding will enable Wise AI to advance its goal of creating digital identities in Southeast Asia.
Wise AI’s AI technologies verify the authenticity of government-issued IDs, compare them against facial biometrics, and detect deepfakes.
This technology supports various sectors, including government, banking, insurance, finance, fintech, telecommunications, and e-commerce, in securely onboarding customers remotely.
Since 2020, Wise AI has expanded its research and development in Generative AI, automated Machine Learning, and Large Language Models (LLM) to enhance its services.
Wise AI has been selected by the Malaysian government as a national success case for the AI Governance and Ethics framework.
David Lim said,
“Every transaction begins with identity, and the heart of the digital economy revolves around one thing – Your customer’s identity. As this technology sector ramps up, there has yet to be a dominant player in Southeast Asia.
We envision the startup becoming this region’s leading eKYC and digital identity provider. We intend to localise our offerings by working with partners in each country to fulfil their needs further.”
This announcement follows a previous investment from Sunway’s venture firm, Sun SEA Capital, which was reported in December 2020.
