Zama Hits Unicorn Status with $57M Series B for FHE Blockchain Encryption

Zama, a cryptography firm specializing in fully homomorphic encryption (FHE) for blockchain applications, secured $57 million in a Series B round co-led by Blockchange Ventures and Pantera Capital. The funding vaults Zama's valuation past $1 billion, marking it as the first FHE-focused unicorn. The capital will accelerate mainnet deployment, ecosystem growth, and research initiatives.

FHE enables computations on encrypted data without decryption—a breakthrough for privacy-sensitive use cases in decentralized finance (DeFi), confidential stablecoins, and secure AI. Zama's protocol abstracts cryptographic complexity, allowing developers to build encrypted dApps for sectors like healthcare and defense. "This technology could redefine confidentiality in blockchain and cloud computing," said Ken Seiff of Blockchange Ventures.