Turing Space Secures Over 3M USD in Strategic Round to Accelerate Global Expansion in Digital Identity

Taipei, Taiwan – November 13, 2024 – Turing Space, a leading TrustTech innovator dedicated to addressing complex verification challenges across industries worldwide, announced the successful completion of its strategic funding round, raising over 3 million USD. The funds will drive R&D in digital identity infrastructure and fuel expansion across Taiwan, Japan, and Europe, deepening global partnerships and advancing its mission to build a borderless digital trust network. 

In 2024, Turing Space restructured its U.S. holdings, consolidated operations in Japan and Taiwan, and launched a new office in Germany. This funding will support technology development, talent acquisition, and market expansion. In Taiwan, the focus remains on enhancing user experience, while in Japan, Turing Space aims to foster more cross-border verification solutions. In Europe, through initiatives like Digital Product Passport (DPP) and digital identity solutions, the company is pursuing collaborations with major enterprises in Switzerland, Germany, and the Netherlands to strengthen EU partnerships. 

The global identity verification market is projected to exceed USD 82.73 billion by 2036, with a CAGR of over 16.5%, according to Research Nester. Ted Wen, Chairman of lead investor Profederal, stated, “The Profederal Platform is committed to elevating the knowledge value within Asia’s service industry. Companies like Turing Space, with a strong focus on knowledge-driven services, align well with our priorities for support. The founders of Turing Space bring both talent and ambition, coupled with a bold vision for global market expansion, which further strengthens our resolve to offer guidance. Beyond funding, our platform will provide additional resources to help Tuning Space accelerate its growth and seize the opportunities of the emerging digital era.”  

Jeff Hu, Founder and CEO of Turing Space, remarked, “This milestone brings us closer to becoming a global leader in trust technology. Thanks to our growing community of supporters across industries, this year we completed two nation level projects: Turing Facts and the Turing Green renewable energy certificate declaration platform. Turing Space is now advancing beyond certificate issuance and verification, laying the groundwork for digital identity infrastructure.” He added, “Our partnership with Dai Nippon Printing (DNP) to establish the Asia Pacific Digital Identity Consortium (APDI) has positioned Turing Space as a technology integrator in the international market. We will continue developing cross-border digital identity applications to bridge trust between Taiwan and the world.”