Zug - Vereign AG has secured 2.5 million Swiss francs in a round of financing. The start-up has developed a solution for digital ID based on blockchain. This aims to make digital communication more secure.

Vereign secures 2.5 million Swiss francs

 

Vereign AG from Zug has successfully closed a round of funding in which it secured 2.5 million Swiss francs. According to a press release, the round was led by the Zurich family office AquilaDirekt AG. Other technology companies and business angels were involved as well.

Vereign is working on a blockchain solution for digital identification. The focus is on protecting digital privacy and user independence. The solution can be used in a range of digital interactions, including emails or digital document signing, for example.

Vereign’s aim is to establish a “Swiss network for verified and self-sovereign identity.” The company is working together with several partners for this, including the platform æternity and the technology giant IBM, for example.

Christian Keller, CEO of IBM Switzerland, is quoted in the press release, saying: “We are very pleased to collaborate with Vereign; its digital identity solution is the right answer to meet current market needs. Based on IBM’s OpenPOWER platform, Vereign and its clients have full transparency.”

Totemo AG from Küsnacht ZH also took part in the recent funding round. Thus, the two companies have developed a technology partnership. Totemo is a secure electronic communication provider. The partners’ first joint project aims to make emails even more secure for companies.

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