French Startup Raises $73 Million for Blockchain, AI Privacy

Paris-based startup Zama has raised $73 million to further develop its cryptography technology aimed at enhancing data privacy for both blockchain and artificial-intelligence projects.

The Series A funding round was led by crypto venture fund Multicoin Capital and Filecoin creator Protocol Labs. Other investors include the Solana blockchain’s co-founder Anatoly Yakovenko and Metaplanet. The firm declined to disclose its valuation.

The startup is developing something called fully homomorphic encryption, which allows computations to be performed using encrypted data. The technology will improve data privacy and confidentiality for new industries including blockchain and AI, according to Rand Hindi, ...