Hopae, a Seoul, South Korea- and San Francisco, CA-based digital identity solution company, raised $6.5M in funding.
The round consisted of $4.3M in seed round from investors led by SV Investment, with participation from Z Venture Capital, Bon Angels Venture Partners, along with $2.2M in debt financing from Korea Credit Guarantee Fund (KODIT).
The company intends to use the funds to establish its U.S. headquarters, expand across Europe, and solidify strategic partnerships for age and identity verification. It also plans to hire across its Seoul and Paris offices.
Led by CEO Ace Shim, Hopae is improving the digital identity landscape with its DID (Decentralized Identity) technology, which helps governments and institutions to issue reusable, privacy-preserving, and unforgeable digital IDs and credentials. During COVID-19, the founders built the national vaccination pass that was used by 43m users daily. Currently, the company makes open source building blocks for digital wallets, mainly focused on the new EU regulation which aims to have 80% of the population have a single digital identity for access to all.
At its core, Hopae’s DCX architecture utilizes blockchain technology, ensuring the highest levels of security and integrity for digital credentials. The design philosophy prioritizes user control over personal data, making it the perfect solution for a variety of applications, from government services to private sector identity verification needs.
FinSMEs
20/11/2024