The funds will primarily be used to further strengthen the company's global presence in passport personalization business as well as to enhance its scope in terms of secure process management and authentication software addressing further security-related applications.

Karsten Neugebauer, the CEO and founder of Safe ID Solutions comments "We will now be able to further strengthen our position as the leading player in the passport personalization market and expand our global reach."

The rapid growth of Safe ID has also attracted the national innovation fund of Kazakhstan as a new investor with roots in the fast-growing Asian market. The national innovation fund of Kazakhstan is an entity that is particularly targeting young and ambitious technology companies worldwide with solutions that are made for a global market. The NIF's main objective is to assure technology and know-how transfer to Kazakhstan and the entire Central Asian region. "Safe ID was the vehicle of choice for our first foreign investment in the IT/Security sector this year. The company has a proven track record as a flexible, well structured organization that addresses an extremely interesting market segment with a convincing management team," says Nurbek Rayev, the chairman of the national innovation fund of Kazakhstan.