Privacy-focused tech startup Silence Laboratories has successfully secured $4.1 million in a recent funding round, marking a significant step forward in the development of data privacy solutions for businesses. The investment round was spearheaded by Pi Ventures and Kira Studio, with contributions from several angel investors, including notable figure Anurag Arjun.
Established in 2021 by the entrepreneurial trio of Prakash, Andrei Bytes, and Tony Quek, Silence Laboratories has quickly emerged as a leading innovator in the battle for digital privacy and security. The company is dedicated to facilitating secure data collaboration without sacrificing the confidentiality of sensitive information, utilizing advanced MPC (Multi-Party Computation) technology. This innovative approach enables businesses to jointly process and analyze data, while ensuring the privacy and confidentiality of their information remains intact.
Silence Laboratories has introduced two main products, Silent Shard and Silent Compute, both of which are built on MPC technology. Silent Shard is designed to safeguard against the theft of private keys, while Silent Compute focuses on enabling the private analysis of data. The startup asserts that its technology is crucial for allowing enterprises to collaborate securely, especially in industries such as finance and healthcare where data privacy is of utmost importance.
With the newly acquired funding, Silence Laboratories is poised for further expansion. The company plans to scale its technological capabilities and business operations, alongside investing in ongoing research and development. The ultimate goal is to establish a worldwide network for data collaboration that guarantees privacy and protection for businesses, extending its services beyond digital wallets to encompass financial institutions.
Dr. Jay Prakash, CEO and co-founder of Silence Laboratories, commented on the funding, stating, “In our current digital landscape, trust and privacy are essential for continuous growth. This fresh infusion of capital positions Silence Laboratories to revolutionize privacy, enabling companies to leverage AI’s potential while fiercely safeguarding their most crucial asset – customer trust.
Our cutting-edge privacy technologies ensure that collaboration and innovation can thrive in a setting where data’s confidentiality and integrity remain unbreached.” This statement underscores Silence Laboratories’ commitment to advancing data privacy technologies that empower businesses to innovate and grow without compromising on the trust and security of customer information.