March 7, 2024 at 11:39AM
France-based Zama, an open source cryptography company, raised $73 million in a Series A funding round, led by Multicoin Capital and Protocol Labs. Zama focuses on fully homomorphic encryption (FHE), allowing processing of encrypted data without decryption. It aims to make FHE accessible to developers, with solutions for blockchain and artificial intelligence applications.
Based on the meeting notes, here are the key takeaways:
1. Zama, a France-based open source cryptography company, has successfully raised $73 million in a Series A funding round.
2. The investment is one of the largest venture rounds in France’s history and was led by Multicoin Capital and Protocol Labs, with participation from other investors.
3. Zama specializes in fully homomorphic encryption (FHE), enabling the processing of encrypted data without decryption.
4. The company aims to make FHE accessible to developers without cryptography expertise through open source libraries and solutions.
5. Zama’s solutions currently focus on blockchain and artificial intelligence applications, with plans to expand into other fields.
6. The company has significantly improved the speed of its FHE scheme, unlocking critical blockchain and AI use cases.
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