Madrid-based cybersecurity company Gataca, which focuses on decentralised identity management technology, has announced that Signature Ventures has joined their cap table as a new financial partner. This strategic investment of €1.3 million will further fuel the company’s continued growth and innovation as it revolutionizes the way people manage their digital identities.
Since its foundation in 2018, Gataca’s decentralised identity solutions have enabled individuals to control their personal data securely and privately. This is a big step towards creating a more secure and privacy-conscious digital world. The company’s technology has been successfully deployed in a variety of use cases, including government, higher education, and finance.
Signature Venture’s investment in Gataca underscores the growing recognition of the importance of decentralised identity solutions in today’s digital landscape as a renowned venture capital firm in the web3 space.
Irene Hernández, CEO of Gataca stated: “We are thrilled to welcome Signature Ventures as a partner, continued by adding: “This investment is a testament to the strength of our team, our technology, and our vision for the future of identity management. With Signature Ventures’ support, we can accelerate product development and bring innovative solutions to market even faster.”
In addition to Signature Ventures, SBXi, a prominent American fund, and Gataca’s early backers are also participating in this new financing round. This broad support from a diverse group of investors further validates Gataca’s potential and its position as a leader in the decentralised identity space.
Juliane Hahn, Partner at Signature Ventures stated: “Decentralised identity isn’t just a technology; it’s the cornerstone of trust and empowerment for both organizations and individuals. In an increasingly interconnected world, it offers the assurance of security and the freedom of control over our digital lives. The potential of Gataca’s technology is huge, and we’re excited to see the positive impact it will have for all stakeholders involved.”
What’s on the horizon for Gataca?
The extra capital will allow Gataca to build new products and functionalities, scale the team, and solidify its position as a major player in the decentralised identity space.
This development aligns with the growing interest in decentralised identity technology and ID Wallets, particularly in Europe, where the updated eIDAS regulation mandates Member States to provide certified digital wallets to their citizens and requires certain organizations to accept them as an authentication method.
The funding round positions Gataca one step closer to achieving its mission of delivering highly secure, privacy-preserving, and easy-to-use digital identities that can be seamlessly integrated into existing systems.
Read the orginal article: https://www.eu-startups.com/2023/12/madrid-based-gataca-secures-e1-3-million-for-its-decentralised-identity-solutions/
