March 1, 2024 at 08:57AM
Silence Laboratories secured $4.1 million in new funding, bringing its total raised to $6 million. The investment, led by Pi Ventures and Kira Studio, supports the company’s cryptographic stack for secure data sharing. Their Silent Shard authorization library and Silent Compute product aim to safeguard sensitive information. The funds will fuel research, development, and team expansion to enhance privacy technologies.
Key Takeaways from the Meeting Notes:
– Silence Laboratories has successfully raised $4.1 million in a new funding round, bringing the total raised to $6 million.
– The investment came from Pi Ventures, Kira Studio, and several angel investors.
– The company, founded in 2021 and based in Singapore, focuses on building a cryptographic stack for developers to provide authentication and authorization functionality.
– Silence Laboratories’ solutions rely on multi-party computation (MPC) as cryptographic primitives to ensure the privacy and security of sensitive data, even when shared with others.
– Their Silent Shard authorization library aims to reduce the risk of private key exposure and enable advanced authorization rules, currently being used by multiple digital asset infrastructure and protocol companies.
– The company’s Silent Compute product facilitates secure collaboration on data processing while protecting sensitive information and customer data.
– The newly acquired funds will be invested in the research and development unit and in expanding tech and business teams.
– CEO and founder Jay Prakash emphasized the focus on redefining privacy to enable businesses to embrace AI while protecting customer trust.
Related Fundraising News:
– Permit.io raised $8 million for its authorization platform.
– AI testing startup RagaAI emerged from stealth with $4.7 million in seed funding.
– Bastille Networks raised $44 million to secure wireless devices.
– Supply Chain Security Startup Kusari raised $8 million.
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