Zama, an open-source cryptocurrencygraphy business, has raised $73 million in Series A funding to enhance fully homomorphic encryption (FHE) applications.
FHE facilitates data processing without decryption, hence improving privacy in blockchain and AI. Multicoin Capital and Protocol Labs lead the round, with noteworthy investors including Anatoly Yakovenko, Juan Benet, and Gavin Wood.
Zama, founded in 2020, promotes FHE as a pivotal cryptocurrencygraphic breakthrough that allows for service providing without putting customer data at risk. Their most recent product, fhEVM, provides end-to-end encryption for on-chain data processing on Ethereum-compatible blockchains.
Kyle Samani of Multicoin Capital described FHE as an important cryptocurrencygraphic technique for future computing. The Series A, one of France’s largest fundraising rounds across sectors, consisted of two-year tranches. Notable figures such as Benet and Samani have joined Zama’s board.
Zama’s significant Series A funding demonstrates a strong industry endorsement of fully homomorphic encryption, emphasizing its critical role in advancing secure computing technologies.
