Zama is considered as a great startup based in Paris of France. It has secured $73 million in Series A funding led by Multicoin Capital and Protocol Labs with a valuation nearing $400 million. This marks the largest investment in a homomorphic encryption company. This is significant because it signaling continued interest in data security solutions.
Homomorphic encryption is a complex technique for keeping data secure during transmission. This technology is gaining attention due to increasing concerns about data breaches. Zama’s technology aims to address the challenges of scalability and usability associated with homomorphic encryption.
The funding will support Zama’s research and development efforts and enable the hiring of more engineers to focus on two main market opportunities: blockchain transactions and data exchange for artificial intelligence training. Zama has already posted four libraries on GitHub to facilitate these applications, with over 3,000 developers using them.
Deep tech startup company like Zama is attracting investment and it incrased the demand for innovative solutions. Zama plans to capitalize on its commercialization efforts, having already secured over $50 million in contract value within six months.
Zama’s co-founders, Rand Hindi and Pascal Paillier, bring expertise in computer science and cryptography, respectively. Their collaboration since 2016 has led to significant advancements in homomorphic encryption algorithms.
While full homomorphic encryption remains challenging to implement due to computational complexity, Zama is focused on optimizing existing infrastructure and developing algorithms to make it more feasible. The company’s libraries and tools aim to simplify the integration of homomorphic encryption into various applications, including machine learning and blockchain interactions.
Despite competition from other startups, Zama emphasizes collaboration to grow the market collectively. The goal is to establish homomorphic encryption as a foundational cryptographic tech and they want to enable privacy-preserving applications in various industries.
