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Since its graduation from an accelerator in January 2023, privacy solution Nillion has raised a total of $50 million.
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The Nillion network has secured $25 million in a new funding round to support its decentralized privacy platform, which offers an optional blockchain component. This marks the network’s second fundraising round this year, following a previous round in February.
Hack VC led the Oct. 30 round, which was further supported by venture capitalists, including Distributed Global and Hashkey, as well as key opinion leaders such as Ansem, Arthur Hayes and Meltem Demirors and industry leaders from Worldcoin, Injective and Sei. Nillion has now raised more than $50 million in total.
The world’s first offchain Blind Computer
Nillion claims to have built the world’s first Blind Computer. There are over 40 builders in the ecosystem, which is hosted on Cosmos. They include developers from Near, Aptos, Arbitrum, Mantle, IO.net and Ritual, among others AI agents, data marketplaces, private DeFi and healthcare analysts.
According to a statement shared with Cointelegraph, Nillion clients seek private data storage and computation in the form of quantum secure messaging, encrypted trading platforms and similar solutions. Nillion said in its statement:
“Nillion was founded three years ago to build a future where high-value data can be secured through decentralization and privacy-enhancing technologies (PETs) such as secure multi-party computation (MPC) and homomorphic encryption.”
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No blockchain? No problem
Nillion co-founder Lukas Bruell explained in a video posted to Near Protocol’s YouTube channel on Oct. 10, “Whenever you run a computation the data is actually fully exposed,” until Nillion created a “private cloud environment.”
Using Nillion, a decentralized network of nodes can process the encrypted information without seeing the underlying data and generate output.
Source: Nillion
Furthermore, Nillion CEO Alex Page told Cointelegraph in December 2022 that its Nil Message Compute technology will work without a blockchain as well. Other products it offers include the Nada AI developer toolkit.
Nillion graduated with 12 other companies from Web3 accelerator Beacon’s “Cohort 0” in January 2023. In August 2024, it integrated with the Aptos network.
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This article first appeared at Cointelegraph.com News
