Homomorphic encryption chip provider Niobium has completed a $5.5 million seed round financing, led by Fusion Fund

ChainCatcher news, fully homomorphic encryption chip provider Niobium announced the completion of a $5.5 million seed round financing, led by Fusion Fund, with participation from Morgan Creek Capital, Rev1 Ventures, Ohio Innovation Fund, and Hale Capital.

It is reported that Niobium is building fully homomorphic encryption (FHE) accelerator chips and commercializing them. The new funds will be used to explore the commercial applications of FHE in industries such as healthcare, finance, and blockchain, and they also plan to showcase the solution and launch pilot projects in the fourth quarter of this year.