Left to right: Silence Laboratories Founders Dr Tony Quek, Dr Andrei Bytes and Dr Jay Prakash
Silence Laboratories, a Singapore-based cybersecurity startup focusing on Web3 technologies, has secured an additional US$4.1 million in funding.
The round was led by Pi Ventures and Kira Studio, along with contributions from several prominent angel investors.
The fresh funds will be used to scale the company’s tech and business teams and enrich the company’s R&D pipeline.
Founded in 2021 by Dr Jay Prakash, Dr Andrei Bytes, and Dr Tony Quek, Silence Laboratories focuses on privacy-enhancing technologies through a fusion of cryptography and security engineering for enterprises. It aims to create a global infrastructure that enables privacy-compliant collaboration and exchange, eliminating single points of failure.
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The company’s product offerings, leveraging multi-party computation (MPC) as their core cryptographic primitives, consist of:
- Silent Shard: Empowers enterprises and users to safeguard sensitive private keys and establish advanced authorisation rules.
- Silent Compute: Facilitates collaborative information processing among organisations without exposing their secrets to third parties, enhancing insights while maintaining compliance and trust.
The growing global demand for privacy-enhancing technologies (PETs), with a compound annual growth rate of 26.6 per cent, highlights the increasing need for Silence Laboratories’ offerings. These solutions provide mathematical assurances for techno-legal expectations, enabling secure data collaboration across sectors with minimised risk.
“With this new injection of funds, Silence Laboratories is poised to redefine privacy by enabling businesses to fully embrace the power of AI while rigorously protecting their most vital asset – customer trust,” said Prakash, CEO and Founder.
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Image credit: Silence Laboratories
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