Nillion, a privacy service, has raised $50 million since graduating from an accelerator in January 2023.
Nillion Network has secured $25 million in its latest funding round to develop further its decentralized privacy platform, which includes an optional blockchain component.
This is the network’s second fundraising effort this year, following a round in February.
The Oct. 30 funding round was led by Hack VC, with additional investments from venture firms such as Distributed Global and Hashkey, as well as notable figures like Ansem, Arthur Hayes, and Meltem Demirors.
Industry leaders from organizations including Worldcoin, Injective, and Sei also participated, bringing Nillion’s total raised to over $50 million.
World’s First Offchain Blind Computer
Nillion claims to have created the first-ever Blind Computer, with over 40 developers in its Cosmos-hosted ecosystem.
These contributors include experts from Near, Aptos, Arbitrum, Mantle, IO.net, Ritual, as well as professionals in AI, data marketplaces, private DeFi, and healthcare analytics.
According to a statement shared with Cointelegraph, Nillion’s clients are looking for solutions like quantum-secure messaging and encrypted trading platforms to store and process private data. Nillion stated:
“Nillion was founded three years ago to build a future where high-value data can be secured through decentralization and privacy-enhancing technologies (PETs) such as secure multi-party computation (MPC) and homomorphic encryption.”
No Blockchain? No Problem
In a video posted on Near Protocol’s YouTube channel on Oct. 10, Nillion co-founder Lukas Bruell explained, “Whenever you run a computation the data is actually fully exposed,” until Nillion developed a “private cloud environment.”
With Nillion’s platform, encrypted data can be processed by a decentralized network of nodes without exposing the underlying information.
Additionally, Nillion CEO Alex Page shared with Cointelegraph in December 2022 that its Nil Message Compute technology operates without a blockchain. Nillion also offers the Nada AI developer toolkit.
Nillion graduated from Web3 accelerator Beacon’s “Cohort 0” in January 2023, alongside 12 other companies. In August 2024, it integrated with the Aptos network.
