Nillion Raises $25M to Expand Privacy-Focused Blockchain Ecosystem
The post Nillion Raises $25M to Expand Privacy-Focused Blockchain Ecosystem appeared on BitcoinEthereumNews.com.
Nillion, a privacy-focused blockchain network, has secured $25 million in a funding round led by Hack VC. Other notable investors in the round include HashKey Capital, Maelstrom Fund, Animoca Brands, Chapter One, Big Brain VC, Fold Finance, GSR, and Presto. This latest funding effort aims to expand Nillion’s blind computing technology, which offers a solution to decentralized data privacy for sensitive information across blockchain and artificial intelligence (AI) sectors. Nillion reveals the funding details to the crypto community through its official social media platform, X. Nillion’s Blind Computing Powers a New Era of Data Privacy Nillion’s innovation, “Blind Compute” technology, provides the infrastructure to process data without exposing its contents. This concept is designed to revolutionize data privacy by allowing applications to operate collaboratively without revealing sensitive information. This architecture creates an ecosystem where projects requiring high levels of security and privacy, including AI and blockchain applications, can seamlessly integrate. With the rise in data handling and processing demands, Nillion positions itself as a leader at the intersection of blockchain and artificial intelligence. Nillion’s platform supports secure storage and decentralized data ownership, especially in sectors that rely on vast datasets, such as AI. Nillion brings an innovative solution to manage data without reliance on centralized entities Funding Growth Fuels Privacy Vision of Nillion The recent $25 million funding round follows Nillion’s prior financial milestones, including a $20 million token sale on CoinList at a valuation of $400 million. In addition, Nillion raised $25 million in 2022 with investors such as Distributed Global, AU21 Capital, HashKey Capital, GSR, and BigBrain Holdings. Nillion’s continued backing signals confidence from the blockchain investment community in its capability to redefine data privacy for next-generation digital applications. Nillion has partnered with major blockchain networks, including NEAR, Aptos, and Arbitrum. These alliances are expected to enhance its…
Filed under: News - @ November 1, 2024 12:24 am