Zama, a cryptographic company that pioneering full homomorphic encryption (Fhe) For Blockchains, it said it raised $ 57 million in a series of B-round co-led by Blockchange-Ventures and Pantera Capital.
The team said fundraise pushes Zama’s total capital collected to over $ 150 million and appreciates it at over $ 1 billion, making the company the first unicorn involved in FHE.
Full homomorphic encryption is a way to keep data private, even if they are used, making it particularly valuable for sensitive applications in blockchain and AI. The financing that comes as Zama’s public test network opens for use will go towards the main network introduction, grow its adoption of the ecosystem and research efforts.
The Zama Protocol allows developers to build encrypted decentralized applications (DAPPS) Without needing deep cryptographic expertise. Use of cases may vary from confidential stablecoin issuing and active docking to private identity verification and government states governance, according to a statement shared with Coindesk. It also has uses outside the blockchain environment, such as health care and defense, where secure calculation of encrypted data is increasingly crucial.
“Zama commercializes a whole new generation technology that can redefine how familiarity is handled in Blockchain and ultimately in all Cloud Computing,” said Ken Seiff, Co-Managing Partner for Blockchange-Ventures, in the statement.
“This is our third and biggest investment in Zama. Not since I first saw Ethereum in 2014, I have seen a company that commercializes a whole new technology that could be as a fundamental to our global technology infrastructure.”
Zama’s Serie A round, where it raised $ 73 million, was led by Multicoin Capital and Protocol Labs.
Read more: Cryptography Firm Zama Travel $ 73m to ‘Full Homomorf Encryption’ Apps
