Ex-Wave CEO Has Raised $5 Million in Funding for Startup Qui

Kirk Simpson’s new Web3 venture Qui Identity Inc has raised $5 million in funding in a fundraising led by the Round 13 Digital Asset Fund.

• The fundraising was held on the 13th, mainly with the participation of OMERS and Witington Ventures. The tour was led by the Digital Asset Fund.
• Simpson and his team are creating Qui to help people store their own identity in a decentralized way, to control it more reliably.

What is Web3?

As we know Web 3.0 a data-driven web it will focus on using a machine-based understanding of data to create web the third generation for sites and applications internet services. Web 3.0‘s ultimate goal is smarter, connected and open web to create sites.

About Qui Identity

Qui Identity is a development stage Web3 project created to eliminate the global identity protection problem. The company is leveraging decentralized technology to help people store and control their identities online.

Simpson, worked with his team to develop a program to help secure identities on web3.

Mr. head of venture capital of OMERS Damien Steele, “I have a lot of respect for these two people,” he said. “This is a very early investment for OMERS Ventures, but we were happy to make an exception for these two.”

Managing partner of Whittington Ventures, which also supported Qui’s $5 million raise Jim Orlando, said it was a simple decision for his company. “It all comes down to this, it’s a really interesting problem and these are the people who are going to help find a way to solve this problem,” he said.

Simpson and Mr Peter Karresia, they decided to change the way people verify their online identities by leveraging decentralized technology.

Who commented on Qui’s mission Simpson said; “The basic concept is that you have to have your own digital identity, which is very burdensome for users today, as information is distributed over the Internet,”

Qui is entering an area where there are currently several operators. Many web3 companies are generally blockchain in their games , In NFTs, and in the metaverse as we move forward with this content in pursuit of opportunities, very few of them come across on identity protection. This, on the other hand, makes Qui different.

Unstoppable Domains, which offer identity protection through NFT technology, are leading the race. The company was recently managed by Pantera Capital it achieved unicorn status in a $65 million funding round.

Qui is developing Distributed Identity tools that people and businesses will rely on for digital and real-world interactions.

For individuals

With a user-controlled digital identity wallet, people will share approved claims about their identity to access products and services and have full ownership over this data.

For business

Organizations will accelerate trust-based processes such as retail operations, enrollment, recruitment, and more with powerful APIs and SDKs.

Why Decentralized Identity?

For so many things online and offline, we are being asked to prove these things about our identity. Proof of income when applying for a mortgage.  Proof of your university degree when applying for a job. And now the proof of the existence of a token. Proof of a driver’s license to drive a vehicle.

Decentralized identity is an answer to many of these problems.

With user-controlled, enjoyable experiences for people and robust APIs and SDKs for companies, Qui gives users the ability to fully control what they share at a granular level.

Qui will enable business activities to be carried out more easily, with greater confidence for businesses and greater security for individuals.

Qui Team

Kirk Simpson , He is the co-founder and CEO of Qui and the co-founder and former CEO of Wave Financial Inc., which was acquired by H&R Block in 2019. Kirk led Wave from 2010 to 2022, growing the company to $100 million in revenue.