SINGAPORE: MONDAY, 03 FEBRUARY 2020
Investment to Propel GTRIIP’s Expansion Plans in the Asia Pacific Region
GTRIIP, a digital identity software provider and global category leader in hotel check-ins with a selfie, has secured their Series B funding round. The latest investors to come onboard include Japanese VC firm Global Brain, through the KDDI Open Innovation Fund No. 3 (KOIF), which manages the investment portfolios of the major Japanese telecommunications operator KDDI Corporation.
GTRIIP is the first investment of KOIF Singapore office, which was recently established in June 2019; the global fund has been investing in Singapore and Indonesia-based startups since 2018. Other investors include Kepventure Pte Ltd, a wholly-owned subsidiary of Keppel Corporation, a Singaporean multi-business company focused on sustainable urbanization and Accord Ventures, a Japanese VC firm.
With this strategic funding round, these select partners augment GTRIIP’s regional expansion plans in both hospitality and other commercial properties in Asia Pacific markets. Some of these markets have ageing populations, waning workforces, and high labor cost. Technological innovations such as artificial intelligence enables hotels to work around these limitations by reducing repetitive, high-volume tasks via automating check-ins and identify verifications, increasing their productivity.
“We are grateful to have the investors’ belief and continued support in GTRIIP business. The investment aligns with our vision to grow further in Asia Pacific Market. It is an ideal opportunity to showcase the value in seamlessly checking-in a large number of travelers using their own smartphones.” said Maxim Tint, Founder & CEO of GTRIIP.
He added, “GTRIIP is a software-as-a-service product that requires no additional hardware. This makes it inherently more scalable and sustainable for properties, who can enjoy the full benefits of automated check-ins without incurring extra capital expenditure. A software-as-a-service solution also produces less carbon footprint and is more environmentally friendly than physical identity solutions, such as plastic ID and access cards, or hardware kiosks.
”Beside furthering its reach, GTRIIP is also looking to diversify its product lines into new verticals beyond hospitality and launch specialized products for other commercial properties, such as tenant access and visitor access. To facilitate this growth, GTRIIP is looking to enlist more developers, engineers, researchers, client success specialists, and sales team members. Looking ahead, the company is focused on revolutionizing the way businesses utilize digital identity on a global scale.
Drawing parallels to other industry trends, Huang Siheng, Co-founder & CTO of GTRIIP, shared: “Payment is already becoming mainstream on mobile, but there are still a few things that we must carry physically — photo ID, driving license, and keys. GTRIIP envisions and believes in a future where people can travel without any photo ID or access card. Our face and biometrics suffice as our identity. Once we have this in place, geographical mobility can become seamless. It is the guiding mission behind our digital identity platform.
”GTRIIP previously raised USD 1 million in their Series A funding from connectivity solutions provider M1. This allowed them to scale their first hotel product serving major hospitality customers in Singapore and Macau, including the Park Hotel Group, Amara Hotel Group, and other major casino & resort brands.
Founded in 2014, GTRIIP has a 20 staff team. To date, it has completed installations for over 13,000 rooms and access points, and facilitated over 1 million digital identity check-ins.
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GTRIIP is a digital identity platform for global citizens, allowing them to validate user identity with a selfie on smartphones and access commercial properties. The product uses artificial intelligence and machine learning to automatically verify photo IDs and owners. GTRIIP serves over 13,000 hotel rooms and office access points and the patented software has completed over 1 million check-ins globally.
In Singapore, GTRIIP’s customer hotels are enabled with the E-Visitor Authentication (EVA) system, reducing guest check-in time at the front desk by 70 percent. The hotel solution improves productivity and security sustainably without requiring major hardware investment or additional carbon footprint.
GTRIIP’s office solution provides a scalable platform across multiple geographies, properties, and rooms, enabling a better user experience to facility managers, tenants, and visitors.