Corporates identify Element for $12m series A

Apr 13, 2018 • Callum Cyrus

BCA, BRI and Telkom Indonesia all invested in the biometric identification software developer, whose early backers include Recruit and Sinar Mas.

US-based biometric identification software developer Element raised $12m on Wednesday in a series A round featuring telecommunications firm Telkom Indonesia and banking groups Bank Central Asia (BCA) and Bank Rakyat Indonesia (BRI).

Venture capital firm PTB Ventures and venture builder GDP Venture co-led the round, which also featured Maloekoe Ventures. BCA and Telkom took part through respective subsidiaries Central Capital Ventura and MDI Ventures while BRI used an undisclosed corporate venturing unit.

Element is developing biometric identification software for mobile…

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