Home CII/OT Silence Laboratories Secures $4.1M Funding for Privacy-Preserving Collaborative Computing

Silence Laboratories Secures $4.1M Funding for Privacy-Preserving Collaborative Computing

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Silence Laboratories Secures $4.1M Funding for Privacy-Preserving Collaborative Computing

Silence Laboratories, a cutting-edge technology company based in Singapore, recently announced a significant milestone in its journey to revolutionize data privacy and security in the digital age. The company, founded in 2021 by Dr. Jay Prakash, Dr. Andrei Bytes, and Dr. Tony Quek, has secured an additional $4.1 million in funding from leading investors Pi Ventures and Kira Studio, as well as several prominent angel investors.

The increasing concern around data privacy and the risks associated with data leaks by hackers and malicious insiders have prompted Silence Laboratories to develop innovative solutions to address these challenges. With a focus on enabling secure data collaborations between enterprises and entities, the company has leveraged modern cryptography to create a robust infrastructure that ensures sensitive information remains protected at all times.

One of the key technologies developed by Silence Laboratories is the Silent Shard, a distributed signature (authorization) library that has been audited by top security firms such as Trail of Bits. This technology has enabled the company to form strategic partnerships with leading digital asset infrastructure and protocol companies like BitGo, MetaMask, EigenLayer, Biconomy, and EasyCrypto. The Silent Shard product allows enterprises and users to safeguard sensitive private keys and implement advanced authorization rules, while the newly launched Silent Compute product enables secure collaboration on data processing without exposing critical information to third parties, all thanks to the use of multi-party computation (MPC) as its core cryptographic primitives.

In a statement regarding the recent funding round, CEO Dr. Jay Prakash emphasized the importance of trust and privacy in the digital ecosystem, stating that safeguarding data confidentiality and integrity is essential for sustainable growth. By developing privacy-enhancing technologies that empower businesses to leverage the power of AI while protecting customer trust, Silence Laboratories aims to redefine privacy standards and foster collaboration and innovation in a secure environment.

The market for privacy-enhancing technologies (PETs) is rapidly expanding globally, with a compound annual growth rate of 26.6%. As companies across various sectors seek to enhance data privacy and comply with regulatory requirements, the demand for solutions like those offered by Silence Laboratories is on the rise. These technologies provide mathematical guarantees for techno-legal expectations, enabling secure data collaboration without the need to share sensitive information with external parties.

Shubham Sandeep, Managing Director at Pi Ventures, expressed confidence in Silence Laboratories’ innovative solutions for privacy-preserving compute, particularly in highly regulated industries such as finance and healthcare. The company’s MPC infrastructure, known for being the fastest in the world, offers a secure and configurable solution that grants users full control over their data, without relying on third-party vendors prone to security breaches.

The newly secured funding will be instrumental in scaling Silence Laboratories’ technical and business teams, as well as in advancing its research and development efforts. With a growing global leadership team and a focus on privacy and authentication infrastructure, the company is well-positioned to drive forward its mission of enabling secure and compliant data collaboration across industries.

The enthusiasm surrounding Silence Laboratories’ groundbreaking products has attracted strong support from investors like Anurag Arjun, from Kira Studio and Ex Co-founder of Polygon, who believes that privacy-preserving infrastructure combined with blockchain and fintech solutions will play a pivotal role in shaping the future of data security.

In conclusion, Silence Laboratories is at the forefront of innovation in data privacy and security, offering cutting-edge solutions that enable enterprises to collaborate and exchange insights in a secure and compliant manner. With a team of experts in cryptography and security engineering, the company is well-equipped to lead the way in redefining privacy standards and driving sustainable growth in the digital age. To learn more about Silence Laboratories and their pioneering work, visit their website at https://silencelaboratories.com.

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