Privasea Securely Leads AI Data Revolution with Strategic Funding and FHE Technology

Apr 3, 2024 –Privasea, early backed by Binance Labs, a leading provider of AI-driven data security solutions, has recently successfully completed a strategic private placement round. This round of financing, with participation from OKX Ventures, Nomura Group's Laser Digital, and SoftBank-backed incubator Tanelabs, further solidifies Privasea's position in the fields of artificial intelligence and data security. Earlier, Privasea also secured a $5 million pre seed/seed funding round, laying a solid foundation for its development.

One of Privasea's core technologies is Fully Homomorphic Encryption (FHE).Regarded as the crown jewel of cryptography, it's even seen by many as the endgame solution. Privasea is partnered with Zama with applying FHE pipelines to ML(or AI) applications in a fully decentralized manner.Privasea further strengthens its position in the data security field by establishing a decentralized computing network to provide powerful and scalable computing resources for AI tasks. Its DePin architecture injects new vitality into the distributed computing model, effectively reducing the risks associated with centralized data processing.

Additionally, it's worth mentioning that FHE technology complies with various data protection regulations, including the General Data Protection Regulation (GDPR) of the European Union, providing enterprises with a regulatory-compliant approach to data processing.

Based on FHE technology, the Privasea AI network will also integrate with the distributed storage chain BNB Greenfield. This means that data within the ecosystem can be stored in a distributed manner through BNB Greenfield, granting users absolute control over their data and the flexibility to use it. Users have the ability to upload their personal models, whether public or encrypted, to the network for distributed storage. The encrypted results can be returned to the users or shared with others using FHE key conversion functionalities. This further provides a secure method for sharing encrypted data, facilitating a cycle of data value, protecting user data, and promoting data value sharing.

Privasea solutions can be highly integrated with various scenarios requiring verification and computational analysis for data protection. Potential scenarios include biometrics, healthcare, finance, secure cloud data computing, and anonymous voting systems, among others. The most recent use case is Privasea is about to release its APP in both Android and Ios for POH(proof of human) by biometrics.

Privasea has been included in the Google Cloud Web3 Startup Program, which means that Privasea's FHEML capabilities and the Privasea AI network are built to be further integrated by Google Cloud services to serve more potential use cases.

The success of this financing round will further accelerate Privasea's development in the fields of artificial intelligence and data security, driving it to provide more secure and efficient data processing solutions for global users.

About Privasea

The Privasea AI Network is a powerful system designed to prioritize the end to end data security throughout the AI computation process. It uses an innovative technology called Fully Homomorphic Encryption (FHE), which enables computations to be conducted on encrypted data, producing results that are identical to computations performed on unencrypted data. For more information, please visit https://www.privasea.ai/.