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Zama is building infrastructure for fully homomorphic encryption (FHE), enabling encrypted data to be computed without ever being decrypted. The project aims to bring privacy-preserving computation to blockchain, AI, and other sensitive industries, turning confidentiality into a built-in feature rather than an afterthought.
In June 2025, Zama AI raised $57M in a Series B round at a $1B+ valuation. The round was led by Pantera Capital and Blockchange Ventures and coincided with the launch of Zama’s testnet. Funds will be used to scale its FHE protocol and ecosystem.