An open-source cryptography firm, Zama, secured $73 million in Series A funding to advance fully homomorphic encryption (FHE) applications.
FHE enables data processing without decryption, enhancing privacy in blockchain and AI. Multicoin Capital and Protocol Labs led the round, with support from notable investors like Anatoly Yakovenko, Juan Benet, and Gavin Wood.
In addition to advancing research, the funding also provides Zama with several years of runway and the necessary resources to support partners that are going into production with FHE at present.
Founded in 2020, Zama champions FHE as a pivotal cryptographic breakthrough, enabling service provision without exposing user data to risk. Their latest product, fhEVM, ensures end-to-end encryption for on-chain data processing on Ethereum-compatible blockchains.
Kyle Samani of Multicoin Capital hailed FHE as a critical cryptographic tool for future computing. The Series A, one of France’s largest funding rounds across sectors, involved tranches over two years. Notable figures like Benet and Samani joined Zama’s board.
Zama’s substantial Series A funding reflects a strong industry endorsement of fully homomorphic encryption, highlighting the pivotal role it plays in advancing secure computing solutions.
