Silence Laboratories raised $4.1 M Pre-series A funding from Pi Ventures, others
A $4.1 million pre-series A round has been announced by Singapore-based privacy tech company Silence Laboratories on Thursday.
The funding round is headed by Pi Ventures and Kira Studio, along with several well-known angel investors, the company said in a statement.
The company’s strong research and development (R&D) pipeline will be strengthened, and the funds will be utilized to grow its tech and business teams.
“In today’s digital ecosystem, trust, and privacy are not merely options but imperatives for sustainable growth. With this new injection of funds, Silence Laboratories is poised to redefine privacy by enabling businesses to fully embrace the power of artificial intelligence (AI) while rigorously protecting their most vital asset – customer trust. Our privacy-enhancing technologies assure that collaboration and innovation can flourish in an environment where the confidentiality and integrity of data are uncompromised,” Silence Laboratories Chief Executive Officer and Founder Dr. Jay Prakash said.
The demand for Silence Laboratories’ offering to provide mathematical guarantees for techno-legal expectations is expected to grow, given that the global market for privacy-enhancing technologies (PETs) is expected to grow at a compound annual growth rate of 26.6 percent.
As a result, businesses could collaborate on data processing without having to exchange data, which would reduce risk and enable more industries to gain from new technology.
A privacy tech startup, Silence Laboratories combines security engineering and cryptography in a novel way to enable businesses to implement privacy-enhancing technologies.
The company’s goal is to eliminate all single points of failure and enable a global infrastructure for privacy-compliant collaboration that allows businesses to exchange insights and work together.
“Secure data collaboration to enable privacy-preserving compute is an ever-growing problem, especially in highly regulated domains such as finance and healthcare. This requires solutions based on zero trust cryptographic guarantees instead of relying on third-party data vendors who are prone to security breaches,” said Shubham Sandeep, Managing Director at Pi Ventures.
“The MPC infrastructure developed by the world-class team at Silence Laboratories is the fastest in the world, easily configurable, application agnostic, and provides full control to the user. We are excited to double down on our investment as we have seen the fantastic progress of the company over the last 18 months,” he added.
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