Zama Raises $73M in Series A Funding


Zama, a Paris, France-based open source cryptography company, raised $73M in Series A funding.

The round was led by Multicoin Capital and Protocol Labs, with participation from Metaplanet, Blockchange Ventures, VSquared, and Stake Capital, as well as Juan Benet (founder of Filecoin), Anatoly Yakovenko (co-founder of Solana), and Gavin Wood (co-founder of Ethereum and co-creator of Polkadot).

The company intends to use the funds to hire engineers, software developers, and researchers in cryptography to maintain its open-source libraries, and collaborate with strategic partners to develop a new class of Fully Homomorphic Encryption (FHE) applications. 

Founded by Dr Pascal Paillier and Dr Rand Hindi, Zama is an open source cryptography company building state-of-the-art FHE solutions to protect privacy in blockchain and AI. Their technology enables a broad range of use cases, from confidential smart contracts to encrypted machine learning and privacy-preserving cloud applications.

In addition to addressing data privacy challenges in the blockchain industry, the company is also building bespoke solutions in the artificial intelligence, healthcare, financial services, and governmental security industries. 

Zama’s team is made up of over 75 individuals from 22 different nationalities, drawn from the fields of cryptography, machine learning, and blockchain technology. Half of the team hold PhDs in their respective fields and are passionate about ensuring data privacy.