The startup develops a cloud identity wallet that provides secure, tamper-proof transactions for businesses by enabling customizable lifecycle management of digital identities and credentials. This technology facilitates the transfer of ownership and the implementation of access control policies, ensuring authenticity and efficient data exchange in complex business processes.
Funding
$2.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many organizations face challenges in managing digital identities and credentials across complex business processes, leading to security vulnerabilities, compliance issues, and inefficient data exchange. Existing identity management systems often lack the interoperability and automation needed to streamline data sharing in regulated industries.
Solution
Spherity provides a cloud identity wallet and verifiable credential solutions that enable secure, tamper-proof transactions and streamline compliant data sharing. The platform allows businesses to customize the lifecycle management of digital identities and credentials, facilitating secure transfer of ownership and implementation of access control policies. Spherity's solutions leverage self-sovereign identity (SSI) technology to fortify data integrity and automate compliance across various enterprises. The platform offers seamless integration with existing systems, promoting smooth data exchange between platforms and industries and boosting economic opportunities.
Target Audience
Spherity's primary customers are businesses in regulated industries such as pharmaceuticals, automotive, life sciences, supply chain management, and finance, who require secure and efficient digital identity solutions for compliance and data management.
Features
- eIDAS 2.0-compliant EUDI Wallet
- Digital Product Passports (DPP) for compliance with ESPR and other regulations
- CARO solution for verifying licensing and authorization of supply chain partners, compliant with the Drug Supply Chain Security Act (DSCSA)
- KYC & KYS Compliance (KYLE) solution providing instant access to enterprise data from Bundesanzeiger Verlag
- Interoperability with existing systems for smooth data exchange
- Integration with industry associations like Open Credentialing Initiative (OCI), Gaia-X, and Catena-X
- Support for W3C Verifiable Credentials
- Compliant with EU New Battery Regulation, Ecodesign for Sustainable Products Regulation (ESPR), EU Directive on Corporate Sustainability Due Diligence, EU Green Claims Directive, and EU Critical Raw Materials Act