Zama Raises $73M to Develop Privacy-Preserving Fully Homomorphic Encryption Applications

Zama, an open-source cryptography firm, raised $73M in Series A funding to develop fully homomorphic encryption (FHE) applications
FHE allows data to be processed without decrypting it, useful for privacy in blockchain, AI, etc.
Investors included Multicoin Capital, Protocol Labs, Solana co-founder Anatoly Yakovenko, Filecoin founder Juan Benet, and Ethereum co-founder Gavin Wood
Zama's latest product is fhEVM, a confidential smart contract protocol for Ethereum-compatible blockchains
Managing partner of Multicoin Capital says FHE is the most important cryptographic primitive for the next decade