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Zama cryptocurrency company raises $57 million in Series B funding

Golden Finance reported that Zama, a fully homomorphic encryption (FHE) blockchain technology leader, has raised $57 million in a Series B funding round co-led by Blockchain Ventures and Pantera Capital. The team clarified that this funding will raise Zama's total aggregated capital to over $150 million, at a valuation exceeding $1 billion, making it the first startup (unicorn) involved in FHE. Fully homomorphic encryption is a method that preserves data privacy even when in use, which is particularly valuable for sensitive applications such as blockchain and artificial intelligence. This funding comes as Zama's public test network opens, and it will be used to launch the mainnet, promote the ecosystem, and conduct research.