Cryptography company Zama closed a $73 million Series A funding round co-led by Multicoin Capital and Protocol Labs

PANews reported on March 7 that, according to The Block, the open-source cryptography company Zama completed a $73 million Series A financing co-led by Multicoin Capital and Protocol Labs. The round also includes investors such as Metaplanet, Blockchange Ventures, Vsquared Ventures, and Stake Capital, as well as Filecoin founder Juan Benet, Solana co-founder Anatoly Yakovenko, and Ethereum co-founder and Polkadot co-creator Gavin Participation of angel investors such as Wood. Zama’s technology focuses on fully homomorphic encryption (FHE) and is designed to enhance data confidentiality. The company plans to use the funding to continue developing its FHE tool, with the goal of achieving a thousand-fold increase in performance to support larger applications.