Zama, focused on fully homomorphic encryption (FHE) technology, has completed a $57 million Series B funding round and reached a valuation of $1 billion.
Funding and Valuation of Zama
Zama, co-founded by Dr. Pascal Paillier and Dr. Rand Hindi, announced the completion of a $57 million funding round, co-led by Blockchange Ventures and Pantera Capital. This valuation makes Zama the first unicorn in the FHE space.
Enhancing Zama's Blockchain Security Capabilities
The funding will assist Zama in developing ecosystem-ready technologies for confidential applications on various blockchains. With the launch of the Confidential Blockchain Protocol, broad application of this blockchain-agnostic technology is anticipated.
FHE as a New Milestone in Privacy Standards
Zama's achievement as a unicorn underscores the importance of FHE technology in the space. Historically, innovations in privacy have played a key role in blockchain evolution, and Zama's encrypted computation technology may be considered the next milestone.
Existing privacy solutions are expanding due to FHE technology, and Zama's working solutions could influence the future of decentralized finance and other blockchain sectors.
