Zama, a company developing Fully Homomorphic Encryption (FHE) solutions, announced a $57 million Series B funding round. This milestone positions the company as a unicorn in the encryption space, alongside the launch of a new protocol allowing developers to create confidential applications.
Zama's Funding and Unicorn Status
Zama completed a Series B funding round, raising $57 million from leading investment firms like Blockchange Ventures and Pantera Capital. This led to the company being valued at over $1 billion, with total funding exceeding $150 million. Zama's CEO, Dr. Rand Hindi, stated that achieving unicorn status is a significant milestone for the industry.
Launch of the Zama Confidential Protocol
With the new funding, Zama announced the launch of its Confidential Blockchain Protocol and public testnet, set to launch in July 2025. This will allow developers to build confidential applications via Zama’s FHEVM, with support for other EVM chains and Solana to follow. Ken Seiff from Blockchange Ventures noted that Zama's technology could become foundational for global technology infrastructure.
The Future of FHE and Challenges for Developers
Zama aims to use the new funds to advance the field of FHE and enhance its accessibility for blockchain applications. Key challenges such as speed, hardware integration, and developer usability are being actively addressed. Dr. Rand Hindi emphasized that confidentiality is becoming a fundamental requirement in blockchain technology.
Zama's success illustrates the growing interest in privacy technologies within the financial sector. With further investments and active development, Zama is poised to support the growth and advancement of confidential applications on blockchains.
