Pre-Seed Round

Riptides has raised $3.3 million in pre-seed funding to launch its secure non-human identity management platform, which aims to tackle identity fraud and enhance security for enterprises and AI-first companies. This funding round marks the largest pre-seed round in Hungary to date. The funding will be utilized to develop the platform's technology and expand its market reach. The startup is based in Budapest, Hungary, and is focused on providing machine-to-machine security services. The investment was led by PortfoLion Capital Partners, the Budapest-based venture capital and private equity arm of OTP Bank, and Kaya VC. The funds will also support Riptides in establishing partnerships with key players in the AI and cybersecurity sectors, enhancing its product offerings and market penetration. The startup is poised to address the growing concerns around identity fraud in an increasingly digital world, particularly for businesses leveraging AI technologies.