Arcium, a Bern, Switzerland-based on-chain confidential computing project, raised $5.5m in funding.
The round, which brought total capital raised to $9m, was led by Greenfield Capital with participation from Coinbase, Heartcore Capital, Longhash VC, L2 Iterative Ventures, Staking Facilities, Smape Capital and Everstake, and angel investors Anatoly Yakovenko and Keone Han.
The company intends to use the funds to expand its development efforts.
Co-founded by Yannik Schrade, Julian Deschler, Nicolas Schapeler and Lukas Steiner, Arcium is a parallelized confidential computing network that provides trustless, verifiable and efficient encrypted computation. Arcium implements Multiparty Computation Execution Environments (MXEs) that combine MPC, homomorphic encryption, zero-knowledge proofs, and more to enable computation on encrypted data. Its road to mainnet will be divided into two phases: a Private Incentivized Testnet and a Public Testnet. These will establish Arcium’s foundations by ensuring optimal network performance for developing scaleable confidential applications. By mainnet launch, the company aims for an ecosystem that overcomes blockchain’s fundamental limitation and opens access to a customizable encrypted state for all on-chain applications.
FinSMEs
15/05/2024