Privacy tech startup Silence Laboratories raises $4 million in funding led by Pi Ventures
Silence Laboratories, which builds products to help enterprises and companies ensure data privacy through technologies like multiparty computation (MPC), has raised $4.1 million in a funding round.
The round was led by Pi Ventures and Kira Studio, along with other angel investors. The newly-acquired funds are earmarked for scaling up its tech and business team, and to invest in research and development initiatives, the company said.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitThe Singapore- and Bangalore-based company said the funding follows a $1.7 million round in 2022, bringing the total funds raised by the company to around $6 million.
“When data has been used for inference, for calculation, either in finance, healthcare, or any other business, that's where the visibility is exposed. Whosoever is calculating something on the data has full visibility of the content. That has been the missing piece, which we are trying to fix. In a nutshell, we are enabling computation on encrypted data to a certain extent,” Jay Prakash, cofounder and chief executive of Silence Laboratories, told ET.
Using MPC, a subset of cryptography, Silence enables enterprises to collaborate on processing data without revealing sensitive information to any of them.
«There is no way to guarantee that they (companies) have
