Chain Reaction, a Tel Aviv, Israel-based semiconductor company focused on blockchain and privacy hardware, raised $70M in Series C funding.
The round, which brought total funding to $115M, was led by Morgan Creek Digital and participation from Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management, and BlueRun Ventures.
The company intends to use the funds to expand the engineering and development teams, which have grown to 100 full-time employees, and scale its privacy tech solutions involving the design of cloud data center infrastructure to accelerate privacy enhancing technologies (PETs).
Led by CEO Alon Webman, Chain Reaction accelerates compute performance, enabling companies to adopt and scale solutions to complex problems. Partnering with cloud and data centers, the company transforms compute infrastructure, with custom ASICs and systems that optimize for compute. Its 3PU (Privacy Preserving Processing Unit) accelerates real-time operations of PETs on encrypted data, transforming the cloud into a trusted environment. The company serves verticals that use confidential big data to use the cloud, including financial institutions, health care & big pharma, defense & government, and oil & gas.
Chain Reaction anticipates general availability of its first blockchain hardware chips and systems in the first quarter of 2023.
FinSMEs
23/02/2023