Zama, a entirely homomorphic encryption cryptocurrency (FHE) For blockchains, said that he had raised $ 57 million in a series B co-directed by Blockchange Ventures and Pantera Capital.
The team said that fundraising the total capital of Zama raised more than $ 150 million and valued it to more than a billion dollars, making the company the first unicorn involved in FHE.
Completely homorphous encryption is a way to keep private data even if used, which makes it particularly precious for sensitive applications in blockchain and AI. Funding, which comes as the Zama public test opens for use, will go to the introduction of Mainnet, increasing the adoption of its ecosystem and research efforts.
The ZAMA protocol allows developers to build quantified decentralized applications (dapps) without the need for deep cryptographic expertise. The use cases can range from the confidential emission of stables and tokenization of assets to the verification and governance of private identity in network states, according to a shared press release with Coindesk. He also has uses outside the blockchain environment, such as health care and defense, where secure calculation on encrypted data is increasingly crucial.
“Zama markets an entirely new generational technology that could redefine the way confidentiality is managed in blockchain and, finally, throughout Cloud Computing,” said Ken Seiff, co-nomage partner of Blockchange Ventures, in the press release.
“This is our third and greater investment in Zama. Not since I saw Ethereum for the first time in 2014, I saw a company to market a completely new technology which could also be fundamental for our global technological infrastructure. ”
The A series A series, in which he raised $ 73 million, was led by Multicoin Capital and Protocol Labs.
Read more: The Zama cryptography company collects $ 73 million for “completely homomorphic encryption” applications
