Zama has recently raised $57 million in Series B funding, securing its position as the world's first unicorn specializing in Fully Homomorphic Encryption (FHE). This funding will enhance the launch of its mainnet and foster the development of confidential applications on blockchain technology. With a valuation exceeding $1 billion, Zama's progress signifies a pivotal moment in the finance sector's need for scalable, confidential, and compliant onchain solutions. The new Zama Protocol will enable developers to create applications starting July 2025, showcasing a definitive step forward in cryptographic technology.
"With this latest raise, Zama becomes the world's first unicorn in the FHE space, which is a major milestone for the industry. Reaching a $1 billion valuation represents a significant increase that reflects the market's confidence in our FHE technology and our team's ability to deliver confidentiality to financial applications onchain" said Dr Rand Hindi, CEO and co-founder of Zama.
"The timing of Zama's announcement reflects the accelerating demand within the finance ecosystem for technologies that enable confidential, scalable, and compliant onchain financial applications."
"Not since I first saw Ethereum in 2014, have I seen a company commercializing an entirely new technology that could be as foundational to our future as Zama's FHE solutions." said Ken Seiff, Co-Managing Partner of Blockchange Ventures.
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