cryptocurrencyWhile expectations for the future of s are rising, many projects and platforms continue to raise millions of dollars in funding.
In this context, a leading cryptography technology company, Zamaraised $73 million to develop fully homomorphic encryption.
Zama, decentralized file storage network It received a mega investment of $73 million in a Series A round of funding co-led by Multicoin Capital and Protocol Labs, the company behind Filecoin.
Among other investors Filecoin (FIL) Founder Juan Benet Solana (LEFT) co-founder Anatoly Yakovenko and Ethereum (ETH) co-founder and Polkadot (DOT) Important names such as co-creator Gavin Wood also attended.
It was stated that the $73 million financing collected would be used for the company’s ambitious expansion plans, while a significant portion of the funds would be allocated to further develop Zama’s cryptography technology and ensure that it remains at the forefront of the industry.
A portion of the funds will also be allocated to support customer support services.
Speaking to The Block, Zama co-founder and CEO Rand Hindi said that the massive $73 million financing round is one of the largest rounds ever for a French company, not only in the cryptocurrency industry, but across all sectors.
The CEO declined to comment on the company’s valuation.
*This is not investment advice.
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