SINGAPORE – Feb. 29, 2024. Within the fashionable age, giant firms are wrestling to leverage their prospects’ information to supply ever-better AI-enhanced experiences.
However a key barrier to leveraging this chance is mounting public concern round information privateness, as ever-greater information processing poses dangers of knowledge leaks by hackers and malicious insiders.
Silence Laboratories is on a mission to create infrastructure to allow advanced information collaborations between enterprises and entities, with none delicate data being uncovered to the opposite participating events. Silence Laboratories in the present day declares it has raised an extra $4.1 million funding spherical led by Pi Ventures and Kira Studio, together with a number of distinguished angel buyers.
Leveraging fashionable cryptography, the corporate already has one of many quickest distributed signature (authorization) libraries in manufacturing (Silent Shard), which has been audited by a number of the greatest safety auditing firms like Path of Bits. These libraries have led to the institution of robust partnerships with main digital asset infrastructure and protocol firms like BitGo, MetaMask, EigenLayer, Biconomy, and EasyCrypto.
Merchandise on provide by the corporate embody Silent Shard which permits enterprises and customers to restrict the danger of exposing delicate personal keys and permits superior authorisation guidelines to be put in place. Moreover, the newly launched Silent Compute product permits completely different organisations to collaborate on processing data with no need to reveal their secrets and techniques and information to 3rd events and enrich insights whereas sustaining compliance and belief. Each the merchandise makes use of multi-party computation (MPC) as its core cryptographic primitives.
Commenting on the announcement, Silence Laboratories CEO and founder Dr. Jay Prakash mentioned: “In in the present day’s digital ecosystem, belief, and privateness aren’t merely choices however imperatives for sustainable progress. With this new injection of funds, Silence Laboratories is poised to redefine privateness by enabling companies to completely embrace the facility of AI whereas rigorously defending their most significant asset – buyer belief. Our privacy-enhancing applied sciences guarantee that collaboration and innovation can flourish in an surroundings the place the confidentiality and integrity of knowledge are uncompromised.”
Prakash
With the marketplace for privacy-enhancing applied sciences (PETs) rising globally at a compound annual progress charge of 26.6%, there’s rising demand for Silence Laboratories providing to supply mathematical ensures for techno-legal expectations. This could permit firms to work collectively on processing information, with no need to share information with the opposite celebration – permitting extra sectors to profit from new know-how, with much less threat.
Shubham Sandeep, Managing Director at Pi Ventures, commented: “Safe information collaboration to allow privateness preserving compute is an ever rising drawback particularly in extremely regulated domains equivalent to finance and healthcare. This requires options based mostly on zero belief cryptographic ensures as a substitute of counting on third celebration information distributors who’re susceptible to safety breaches. The MPC infrastructure developed by the world class staff at Silence Laboratories is the quickest on the planet, simply configurable, software agnostic and offers full management to the person. We’re excited to double down on our funding as we now have seen the unbelievable progress of the corporate during the last 18 months.”
The funding might be used to scale the corporate’s tech & enterprise groups and enrich the corporate’s sturdy R&D pipeline. Based in 2021 by Dr. Jay Prakash (CEO), Dr. Andrei Bytes (CTO) and Dr. Tony Quek; the agency has additionally not too long ago been increasing its international management staff throughout cryptography, infrastructure enterprise and engineering.
“The Silence staff is an incredible staff with deep cryptography experience and is engaged on a set of groundbreaking merchandise in privateness and authentication infrastructure and I’m actually excited to assist their journey. Privateness-preserving infrastructure mixed with blockchain and fintech rails goes to be big!” shared Anurag Arjun, from Kira Studio and Ex Co-founder of Polygon.
For additional data please contact the Silence Laboratories press workplace: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257
About Silence Laboratories: Began in 2021 by Dr. Jay Prakash (CEO) and Dr. Andrei Bytes (CTO), Silence Laboratories is a privateness tech firm that allows enterprises to undertake privacy-enhancing applied sciences by a novel fusion of cryptography and safety engineering. Their mission is to allow a world privacy-compliant collaboration infrastructure that might allow enterprises to collaborate, and alternate inferences whereas eradicating all single factors of failure.
The corporate has been based by a robust technical and enterprise staff together with PhDs and researchers with earlier affiliations on the Massachusetts Institute of Expertise (MIT), USA; Singapore College of Expertise & Design (SUTD) & Nationwide College of Singapore (NUS); College of Illinois Urbana-Champaign (UIUC), globally top-ranked Seize The Flag (CTF) groups, and main tech firms. Study extra about their work: https://silencelaboratories.com
Media contact: Bilal Mahmood, Stockwood Technique, Mob: +44 (0) 771 400 7257
