Singapore, Feb 29: Silence Laboratories, a pioneer in privacy-preserving collaborative computing, announced today it has successfully raised an additional $4.1 million in funding.
The round was led by Pi Ventures and Kira Studio, with significant contributions from a host of prominent angel investors.
This capital infusion marks a pivotal moment for the company as it seeks to expand its groundbreaking work in modern cryptography and privacy-enhancing technologies (PETs).
With a global market for PETs growing at an annual rate of 26.6 per cent, Silence Laboratories is at the forefront of addressing the critical need for secure data collaboration across various industries, including finance and healthcare.
The company’s flagship products, Silent Shard and Silent Compute, leverage multi-party computation (MPC) to enable organizations to process data collaboratively without compromising on privacy or exposing sensitive information.
Founded by a team of experts including PhDs from leading universities, Silence Laboratories has quickly established itself as a leader in the field, with partnerships with key digital asset infrastructure and protocol companies.
The funding will support further technological development and expansion of the company’s talented team.
Dr. Jay Prakash, CEO and founder, emphasizes the company’s commitment to redefining privacy and trust in the digital age, ensuring businesses can harness AI’s power without sacrificing customer trust. The investment underscores the industry’s recognition of the need for zero-trust cryptographic solutions, as highlighted by Shubham Sandeep of Pi Ventures, and the potential for privacy-preserving infrastructure in blockchain and fintech, as noted by investor Anurag Arjun.
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