Catenaa, Tuesday, July 08, 2025-Zama, the open-source cryptography firm specializing in Fully Homomorphic Encryption (FHE), announced a $57 million Series B funding round co-led by US investors Blockchange Ventures and Pantera Capital.
This latest raise brings Zama’s total funding above $150 million and values the company at over $1 billion, making it the world’s first FHE unicorn.
The funds will accelerate Zama’s planned mainnet launch, boost ecosystem adoption, and support research aimed at scaling financial applications using FHE to thousands of transactions per second.
Zama’s technology enables confidential smart contracts and encrypted computations on public blockchains, maintaining privacy without sacrificing scalability or composability.
Zama’s upcoming Confidential Blockchain Protocol, launching its public testnet in July 2025, will allow developers to build privacy-preserving decentralized applications using its FHE Virtual Machine (FHEVM), with support initially for Ethereum Virtual Machine-compatible chains and Solana in development.
The company’s FHE solutions unlock use cases across onchain finance, including confidential stablecoin issuance and payments, confidential tokens, onchain identity verification, and network states, allowing sensitive blockchain operations to maintain privacy and regulatory compliance.
Zama has improved FHE speed by 100 times since inception and plans to integrate dedicated hardware acceleration to scale to tens of thousands of transactions per second. Developers can use familiar programming languages such as Solidity to deploy on multiple blockchain networks.
Dr Rand Hindi, CEO and co-founder, emphasized the growing importance of confidentiality as foundational for blockchain adoption, particularly in finance.
