Metaplanet invests in Paris-based blockchain startup Zama

Jaan Tallinn’s fund Metaplanet has invested in Paris-based blockchain startup Zama. The €66,7M round was led by Multicoin Capital and Protocol Labs. Blockchange Ventures, VSquared, and Stake Capital also participated in the round. The investors valued the startup at more than €365,9M.

Founded in Paris in 2020 by Dr Pascal Paillier and Dr Rand Hindi, Zama develops fully homomorphic encryption (FHE) technology based on open-source libraries for blockchain and AI. The startup's solution allows data to be processed without decrypting it, meaning companies can offer their services without seeing their users' data.

The FHE technology has a wide range of applications. For example, it can be used in preventative medicine, allowing customers to share all their health data while keeping it encrypted. The AI can then provide encrypted health recommendations that only the client can see. The FHE technology can also be used in facial recognition and smart contracts.

Zama will use the investment to develop and commercialize its FHE technology. In addition, it plans to expand the team of engineers, software developers, and cryptography researchers.

Metaplanet Holdings is an early-stage investment firm of Skype’s founder Jaan Tallinn. It has 163 companies in its venture investment portfolio.