Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Artificial Intelligence

Cryptography Firm Zama Raises $73 Million for FHE Solution

Zama raises $73 million in Series A funding for a fully homomorphic encryption (FHE) solution for AI and blockchain applications.

France-based Zama, which describes itself as an open source cryptography company, on Thursday announced raising $73 million in a Series A funding round.

The investment, which Zama says is one of the largest venture rounds in France’s history, was led by Multicoin Capital and Protocol Labs, with participation from Metaplanet, Blockchange, VSquared, Stake Capital, Portal Ventures, and several angel investors.

The company focuses on fully homomorphic encryption (FHE), which enables the processing of encrypted data without the need to decrypt it. Organizations can leverage FHE to offer their services without actually seeing — and potentially exposing — their users’ data. 

Zama says it’s making FHE accessible to developers who don’t have cryptography expertise through a suite of open source libraries and solutions. 

“Anyone, from solo developers to large enterprises, can build applications that deliver out-of-the-box, end-to-end encryption to their users,” said Rand Hindi, the CEO of Zama. “Developers don’t need to know anything about cryptography to get started. Our FHE scheme, which builds on top of TFHE, supports any type of application, no matter how complex, vastly expanding the applicability of FHE.”

“Alongside security and developer experience, we maintained an unrelenting focus on performance. Since inception, we have improved the speed of our FHE scheme by a factor of 20x, and are on track to reach 100x soon. This key performance milestone has unlocked critical confidential blockchain and AI use cases,” Hindi added.

Zama’s solutions currently focus on blockchain and artificial intelligence applications, but the firm hopes to expand its use to other fields. 

The company’s machine learning solution enables users to add a layer of privacy to workflows, while the AI solution is designed for confidential smart contracts in the blockchain. 

Advertisement. Scroll to continue reading.

Related: Intel Launches New Attestation Service as Part of Trust Authority Portfolio

Related: Google Releases Open Source Tools and Libraries for Fully Homomorphic Encryption

Related: IBM Releases Open Source Toolkits for Processing Data While Encrypted

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

People on the Move

Shay Mowlem has been named CMO of runtime and application security company Contrast Security.

Attack detection firm Vectra AI has appointed Jeff Reed to the newly created role of Chief Product Officer.

Shaun Khalfan has joined payments giant PayPal as SVP, CISO.

More People On The Move

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Data Protection

The cryptopocalypse is the point at which quantum computing becomes powerful enough to use Shor’s algorithm to crack PKI encryption.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Artificial Intelligence

The CRYSTALS-Kyber public-key encryption and key encapsulation mechanism recommended by NIST for post-quantum cryptography has been broken using AI combined with side channel attacks.

Artificial Intelligence

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem

Artificial Intelligence

ChatGPT is increasingly integrated into cybersecurity products and services as the industry is testing its capabilities and limitations.