Singapore-based privacy tech company Silence Laboratories has on Thursday announced a $4.1 million pre-series A round.

The firm said in a statement that the funding round is led by Pi Ventures and Kira Studio, along with several prominent angel investors.

The funding will be used to scale the company’s tech & business teams and enrich the company’s robust research and development (R&D) pipeline.

“In today’s digital ecosystem, trust, and privacy are not merely options but imperatives for sustainable growth. With this new injection of funds, Silence Laboratories is poised to redefine privacy by enabling businesses to fully embrace the power of artificial intelligence (AI) while rigorously protecting their most vital asset – customer trust,

“Our privacy-enhancing technologies assure that collaboration and innovation can flourish in an environment where the confidentiality and integrity of data are uncompromised,” Silence Laboratories Chief Executive Officer and Founder Dr. Jay Prakash said.

With the market for privacy-enhancing technologies (PETs) growing globally at a compound annual growth rate of 26.6 percent, the statement said there is growing demand for Silence Laboratories offering to provide mathematical guarantees for techno-legal expectations.

This would allow companies to work together on processing data, without needing to share data with the other party – allowing more sectors to benefit from new technology, with less risk, said the statement.

Silence Laboratories is a privacy tech company that enables enterprises to adopt privacy-enhancing technologies through a unique fusion of cryptography and security engineering.

The firm’s mission is to enable a global privacy-compliant collaboration infrastructure that would enable enterprises to collaborate, and exchange inferences while removing all single points of failure.

“Secure data collaboration to enable privacy preserving compute is an ever growing problem especially in highly regulated domains such as finance and healthcare,

“This requires solutions based on zero trust cryptographic guarantees instead of relying on third party data vendors who are prone to security breaches.” said Shubham Sandeep, Managing Director at Pi Ventures.

“The MPC infrastructure developed by the world class team at Silence Laboratories is the fastest in the world, easily configurable, application agnostic and provides full control to the user,

“We are excited to double down on our investment as we have seen the fantastic progress of the company over the last 18 months,” he added.

Anurag Arjun from Kira Studio and Ex Co-founder of Polygon, said the Silence team is an amazing team with deep cryptography expertise and is working on a set of groundbreaking products in privacy and authentication infrastructure.

“Privacy-preserving infrastructure combined with blockchain and fintech rails is going to be huge,” he added.

Leveraging modern cryptography, Silence Laboratories already has one of the fastest distributed signature (authorization) libraries in production (Silent Shard), which has been audited by some of the best security auditing companies like Trail of Bits.

These libraries have led to the establishment of strong partnerships with leading digital asset infrastructure and protocol companies like BitGo, MetaMask, EigenLayer, Biconomy, and EasyCrypto.

Products on offer by the company include Silent Shard which allows enterprises and users to limit the risk of exposing sensitive private keys and allows advanced authorisation rules to be put in place.

Additionally, the newly launched Silent Compute product allows different organisations to collaborate on processing information without needing to expose their secrets and data to third parties and enrich insights while maintaining compliance and trust.

Both the products uses multi-party computation (MPC) as its core cryptographic primitives.

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