PALO ALTO, CA (Nov 10, 2025) — NEC X, the Silicon Valley-based venture studio backed by NEC Corporation (TSE: 6701), has announced a strategic investment in Indicio, a pioneering startup focused on advancing digital trust through cryptographically verifiable digital identities. The investment marks Indicio’s participation in NEC X’s Elev X! Boost program, which aims to accelerate the development and adoption of cutting-edge technologies.
Indicio’s decentralized identity platform addresses major weaknesses in traditional centralized systems—such as data breaches, privacy violations, and administrative inefficiencies—by giving users control over their own verifiable data. The self-sovereign identity (SSI) market is expected to grow to $47.1 billion by 2029, with more than 500 million smartphone users projected to adopt decentralized identity wallets by 2026.
“We are honored to join NEC X and have our innovation in digital identity and AI-driven authentication recognized by a global technology leader,” said Heather Dahl, CEO of Indicio. “Decentralized, verifiable digital identity is the foundation for a safer, more efficient internet and is key to enabling secure AI systems and digital markets.”
Through the Elev X! Boost program, Indicio will gain access to NEC’s biometric authentication technologies, which will enhance its work in areas such as trusted AI, secure access management, and seamless digital travel. NEC X’s CEO Shintaro Matsumoto highlighted that Indicio’s vision of a user-controlled digital ecosystem aligns with NEC X’s mission to foster technologies that solve global challenges.
Indicio’s solutions are already being deployed in real-world use cases, including a partnership with SITA and the Government of Aruba that allows travelers to enter the country using digital travel credentials instead of physical passports. The company has received several recognitions, including the EIC Award 2022 and finalist status in the DHS Digital Design Challenge 2020.
Founded in 2004, Indicio provides decentralized identity solutions for sectors such as travel, finance, and enterprise systems. Its Indicio Proven technology allows for secure, verifiable data exchange without centralized databases or passwords, extending digital trust to AI agents and connected devices.
NEC X, established in 2018, has supported more than 180 startups through its Elev X! Ignite and Elev X! Boost programs. With access to NEC’s 45,000 patents and global R&D network, the venture studio helps innovators bring transformative technologies to market.
For more information, visit https://indicio.tech and https://nec-x.com.