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Start-up Zama raises 73 million euros to secure online privacy

Natasha Kumar By Natasha Kumar Apr16,2024

 Start-up Zama raises 73 million euros to make life safer private online

UNSPLASH – DR

Thursday March 7, the start-up Zama announced that it had raised some 73 million euros in a “Series A”. With this, it intends to secure the transmission of data online, thanks to “completely homomorphic encryption” (“FHE” in English), which could well revolutionize online privacy.

After HTTPS (which replaced HTTP), here comes FHE. “If I use ChatGPT, I send my data to OpenAI encrypted, but he decrypts it for analysis, like all companies. With FHE, the data is encrypted all the time and OpenAI never sees this that I send to him,” explains Rand Hindi, founder of Zama. In other words, this open source cryptography technology makes it possible to process data without decrypting it, and this is why it would clearly strengthen the already existing “blockchain” system, as well as the use of AI.

Many investors believe in it: Multicoin Capital, Protocol Labs, Metaplanet, Blockchange Ventures, VSquared, Stake Capital, Portal Ventures… So much so that the start-up has raised 73 million euros.

With this money, Zama wants to keep its libraries open source for developers wanting to build FHE solutions, to develop new partnerships to create a new class of fully homomorphic (FHE) encryption applications. As reported by l'Informaticien, the young company also plans to strengthen its team of 75 people by recruiting new engineers, software developers and cryptography researchers. 

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Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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