TechFlow news, June 26 — According to CoinDesk, Zama, a cryptography company focused on blockchain fully homomorphic encryption (FHE) technology, has raised $57 million in a Series B funding round co-led by Blockchange Ventures and Pantera Capital.
This latest round brings Zama's total funding to over $150 million and pushes its valuation past $1 billion, making it the first "unicorn" company in the fully homomorphic encryption space. Fully homomorphic encryption enables data privacy during computation, which is particularly critical for sensitive applications in blockchain and artificial intelligence.
Zama’s protocol allows developers to build encrypted decentralized applications (dapps) without requiring deep cryptographic expertise. The company’s public testnet is already live, and the new funds will support mainnet launch, ecosystem adoption expansion, and ongoing research. Use cases include confidential stablecoin issuance, asset tokenization, private identity verification, and network state governance.
Zama’s Series A round was led by Multicoin Capital and Protocol Labs, raising $73 million.
