Zama, An Open-Source Cryptography Company, Raises €67 Million Series A to Build Privacy-Preserving Blockchain and AI

March 07, 2024

Zama, an open-source cryptography company based in Paris, has secured €67 million in a Series A funding round. The round was led by Multicoin Capital and Protocol Labs, with additional participation from Metaplanet, Blockchange Ventures, VSquared, and Stake Capital. Notable investors such as Juan Benet, Anatoly Yakovenko, and Gavin Wood also contributed.

Project	Latest Raise	Latest Raise	Stage	Total Raise	Lead Investor	Category
Zama	Mar 7, 2024	€67M	Series A	$82.3M	Multicoin Capital	Security, AI

The company focuses on developing Fully Homomorphic Encryption (FHE) solutions to enhance data privacy in blockchain and AI applications. The new funding will support hiring engineers, software developers, and cryptography researchers. These resources will maintain and develop Zama's open-source libraries and applications.

Zama addresses the growing need for robust data protection. Its FHE solutions enable computation over encrypted data without exposing sensitive information, a significant advancement for industries requiring high levels of data privacy. Since its founding in 2020, Zama has released multiple FHE solutions, including fhEVM, a protocol designed to keep on-chain data encrypted during processing.

The company’s team comprises over 75 individuals from 22 different nationalities, many holding PhDs in relevant fields. This diversity contributes to Zama's expertise in cryptography, machine learning, and blockchain technology.

About Zama:

Zama is at the forefront of developing privacy-preserving cryptographic solutions. The company provides state-of-the-art Fully Homomorphic Encryption (FHE) tools to ensure data privacy in various sectors, including blockchain, artificial intelligence, healthcare, financial services, and governmental security. By enabling computation over encrypted data, Zama's solutions allow for secure data processing without compromising privacy. Founded in 2020, the company has successfully released multiple FHE solutions and continues to innovate in the field of data privacy.

Website: https://www.zama.ai/ 

X Account: https://x.com/zama_fhe

X Followers today: 14,643

X Followers 30 days ago: 7,265

X Follower change: 7,378 (+101.56%)

About Investor

Investor: Multicoin Capital

Multicoin Capital is a venture capital firm investing in cryptocurrencies, blockchain technologies, and companies developing the decentralized internet. They focus on identifying and supporting projects that drive the future of the Web3 ecosystem.

Location:  United States

Website: https://multicoin.capital/ 

A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.