Originally published on: October 30, 2024
The Nillion network recently announced a successful $25 million funding round to bolster its groundbreaking decentralized privacy platform, which boasts an optional blockchain feature. This round marks the network’s second fundraising achievement this year, following a previous round in February, showing the strong interest in its innovative solutions.
The funding round, led by Hack VC on Oct. 30, saw support from prominent venture capitalists like Distributed Global and Hashkey, as well as influential figures such as Ansem, Arthur Hayes, and Meltem Demirors. With key industry leaders from Worldcoin, Injective, and Sei also backing the project, Nillion has raised over $50 million in total.
At the core of Nillion’s offerings is the world’s first Blind Computer, built to prioritize users’ privacy. The ecosystem, hosted on Cosmos, comprises over 40 talented developers from platforms like Near, Aptos, and AI agents, offering services ranging from data marketplaces to private DeFi solutions.
In a statement shared with Cointelegraph, Nillion emphasized its clients’ need for secure data storage and processing, highlighting applications like quantum secure messaging and encrypted trading platforms. Lukas Brue, co-founder of Nillion, explained the platform’s capabilities in a video posted on Near Protocol’s YouTube channel, showcasing how Nillion’s “private cloud environment” safeguards sensitive information during computations.
Nillion’s innovative approach allows a decentralized network of nodes to process encrypted data without compromising privacy, generating reliable output without exposing underlying information. CEO Alex Page revealed to Cointelegraph that Nillion’s technology can function independently of blockchain, with products like the Nada AI developer toolkit enriching the platform’s offerings.
Having recently graduated with distinction from the Web3 accelerator Beacon’s “Cohort 0” and successfully integrated with the Aptos network, Nillion is making waves in the industry with its commitment to privacy-first solutions. Stay tuned for more updates on Nillion’s journey towards revolutionizing decentralized privacy technology.
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