![]() The Silence team has deep cryptography expertise and is working on a set of ground breaking products in privacy and authentication infrastructure,” he says. ![]() “The MPC infrastructure developed by the team at Silence Laboratories is the fastest in the world, easily configurable, application agnostic and provides full control to the user.”Īnurag Arjun is also enthusiastic. “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,” argues Shubham Sandeep, managing director Pi Ventures. This latest $4.1 million fundraising is led by Pi Ventures and Anurag Arjun, a former co-founder of blockchain specialist Polygon and now at incubator Kira Studio, with participation from several angel investors. The company’s early commercial success and rapid growth appears to have impressed investors, with the company now having raised more than $6 million since its launch. Other customers include digital wallet provider MetaMask, custody specialist BitGo, and the Ethereum specialist Eigen Labs. ![]() “Our partnership has led to the creation of a decentralized authorization network that is going to drive use cases like session keys, private key management, and off-chain computing to power smart accounts on top of inherent economic guarantees.” “Silence is building important infrastructure that is quite revolutionary,” explains Biconomy co-founder Ahmed Al-Balaghi. One Silence Laboratories customer is Biconomy, a fellow Singaporean business that supports transactions in the Web 3 space. It hopes to be at the £2 million point by the end of the year, with a number of new contracts currently in negotiation.Įarly adopters of the technology are enthusiastic about its efficacy. So far, Silence has signed up around 20 customers and is bringing in revenues at an annual equivalent rate of $500,000. ![]() Money laundering checks are another potential use case in the finance sector. Target customers include banks and other involved in credit scoring work, where acquiring insight from a broad range of data sources can build much more accurate pictures of potential borrowers. ![]() But in its early stages, the business is focusing on the financial services sector. Silence’s concept is potentially attractive to any organisation that wants to use its data to collaborate with others. ![]()
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