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ID.me, trusted by more than 152 million users to securely prove their identity online, has raised $340 million across a Series E financing announced today and its recent credit facility, at a valuation exceeding $2 billion. The Series E round was led by Ribbit Capital, with participation from existing investors Ares Credit funds and Moonshots Capital, as well as new investors, including Positive Sum. This funding will accelerate ID.me’s mission to expand access to secure, reusable digital identity and to stop AI-driven fraud.

Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors participated in the round. This comes at a time of heightened interest in indigenous defence manufacturing and AI-powered security systems, as India looks to reduce import dependence and strengthen domestic capabilities.

With this, Trip.com’s stake in MakeMyTrip has fallen to 19.99% from 45%, with two directors, down from five. This comes a month after MakeMyTrip faced allegations of endangering the travel data of Indian army personnel due to its Chinese shareholding.