Privasea, which develops innovative data privacy solutions, has raised $5 million in new funding. Major investors included Binance Labs, Gate Labs, MH Ventures, K300, QB Ventures, CryptoTimes, and Chainlink.
The cash will enable Privasea to expand its offerings and get more users for its privacy computing network. This network employs fully homomorphic encryption machine learning (FHEML), which permits data computation while ensuring that the original data remains completely encrypted and confidential.
A important forthcoming product is the “ImHuman” app, which will use FHEML technology to safely verify whether or not internet users are real people. This contributes to the reliable identification of genuine persons on the internet.
Privasea offers comprehensive privacy solutions, including data source security, data access management, bespoke integration tools, and continual privacy updates. It recently collaborated with BNB Greenfield to improve privacy in BNB’s blockchain data storage.
With strong funding support, Privasea is at the forefront of developing breakthrough encryption computing advances to transform data privacy and security. The money validates the enormous potential of this emerging subject.