Zama Raises $73M in Series A Funding to Develop Fully Homomorphic Encryption Applications for Blockc

A AI BLOCKCHAIN for 2024-03-07 49
London-based open source cryptography company, Zama, has secured $73 million in Series A funding led by Multicoin Capital and Protocol Labs, with participation from several other investors. The funds will be used to hire engineers, software developers, and cryptography researchers to maintain its open-source libraries and develop a new class of Fully Homomorphic Encryption (FHE) applications. Zama's technology enables a broad range of use cases, from confidential smart contracts to encrypted machine learning and privacy-preserving cloud applications, and the company is also building bespoke solutions in the artificial intelligence, healthcare, financial services, and governmental security industries. The team is made up of over 75 individuals from 22 different nationalities, with half of them holding PhDs in their respective fields.