Privasea Raises $5M Funding to Boost DePIN with Fully Homomorphic Encryption Machine Learning
In Brief
DePIN AI network Privasea raised $5M funding to advance its integration of FHE Machine Learning tech into distributed computing network.
DePIN AI Network Privasea announced the completion of a $5 million seed round funding led by Binance Labs, Gate Labs, MH Ventures, K300, QB Ventures and CryptoTimes with participation from Chainlink. The company plans to utilize the newly acquired capital to bolster product development initiatives and broaden its user base.
Privasea aims to advance its integration of Fully Homomorphic Encryption Machine Learning (FHEML) into a distributed computing network. Its incorporation of FHE with machine learning capabilities is set to enhance security, efficiency, and overall computational processes across its network. Fully Homomorphic Encryption (FHE) facilitates computations on encrypted data, maintaining the security of sensitive information during processing.
The company is also preparing to introduce the first decentralized application (dApp) using FHE technology, named the “ImHuman” dApp, which is set to leverage FHE for the secure execution of the “proof of human,” offering a reliable and tamper-proof method to verifying human users in the digital domain.
According to Privasea, the conjunction of DePin‘s decentralized approach to physical infrastructure with the capabilities of AI and Privasea’s data and computing strategies enables revolutionising the approach and engagement with infrastructure management.
Privasea Pioneers Privacy Computing Tech
Founded in 2022, Privasea is a developer of end-to-end privacy computing technology aimed at ensuring the secure flow of data. The company provides a secured data source, remaining data control on the owner’s side, smart access rights management, customized integrations, continuous deployment, and updates while maintaining privacy and computing integrity.
Recently, Privasea collaborated with BNB Greenfield blockchain to integrate its privacy technology with BNB Greenfield’s blockchain and storage platform. The outcome of collaboration aims to enhance security, control, and utility for storage users globally.
The recent funding round and Privasea’s commitment to security-enhancing technologies highlight its leading role in transforming the dynamics of the digital domain.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
