AI Privacy Startup Lattica Secures $3.25M Pre-Seed Funding from Cyber Fund to Revolutionize Data Protection

AI Privacy Startup Lattica Secures $3.25M Pre-Seed Funding from Cyber Fund to Revolutionize Data Protection

Lattica, an innovative cloud-based platform, is revolutionizing the secure and private use of artificial intelligence (AI) through the implementation of Fully Homomorphic Encryption (FHE). Recently emerging from stealth mode, Lattica has secured $3.25 million in pre-seed funding, aimed at advancing its ambitious goals in the AI landscape.

Funding and Backing for Lattica

The funding round was led by Konstantin Lomashuk’s Cyber Fund, with notable contributions from angel investor Sandeep Nailwal, who is also the co-founder of Polygon Network and Sentient: The Open AGI Foundation. This financial boost is set to propel Lattica’s efforts in developing its pioneering technology.

Addressing Data Privacy Concerns

Lattica’s platform aims to tackle pressing issues in sectors such as healthcare, finance, and government, where data privacy and security concerns have hindered the adoption of AI technologies. By leveraging FHE, Lattica ensures that all communications between AI providers and end users remain encrypted, eliminating the need for decryption during operations.

Plans for Development and Expansion

With the new funding, Lattica is focused on:

  • Enhancing its FHE-based platform
  • Improving secure data processing capabilities
  • Scaling operations across various hardware infrastructures

This strategic development aims to make secure AI practical and accessible for industries that handle sensitive information.

Innovative Technology Behind Lattica

Dr. Rotem Tsabary, Lattica’s founder and CEO, holds a PhD in lattice-based cryptography from the Weizmann Institute of Science. One of the key innovations of Lattica is its Homomorphic Encryption Abstraction Layer (HEAL), a cloud-based service designed to enhance FHE performance. This technology provides standardized acceleration across various hardware types, including GPUs, TPUs, CPUs, and specialized hardware like ASICs and FPGAs.

READ ALSO  Styx Intelligence Secures $2.7M Funding to Tackle AI-Driven Threats with Innovative Canadian Digital Risk Platform

Community Engagement and Findings

As part of its launch, Lattica has also shared demo applications and published results from a community survey focused on FHE. The survey highlighted a growing consensus that integrating hardware and software is vital for making FHE commercially viable.

Vision for the Future

Dr. Tsabary stated, “By combining advancements in hardware acceleration with software optimization, we can not only enhance FHE efficiency to achieve commercial viability but also address critical data dilemmas that impede the adoption of AI in sensitive sectors. Our aim is to develop practical FHE solutions tailored for neural networks.”

For more information on Lattica and its technology, visit their official site or check out related resources on Forbes Technology and MIT Technology Review.

Similar Posts

Shop Circle Secures $60M to Revolutionize E-Commerce with Innovative App Suite

Shop Circle Secures $60M to Revolutionize E-Commerce with Innovative App Suite

Bysupport

The rise of e-commerce post-pandemic has led many merchants to rely on multiple apps for operations. In response, Shop Circle was founded to streamline this ecosystem, recently raising $60 million in Series B funding led by Nextalia Ventures. The company has acquired Aiden, an AI-driven software used by major brands, enhancing its offerings. Shop Circle reported a 110% year-on-year revenue increase and has remained profitable for two years, focusing on commerce-centric products. Their deep integration with Shopify positions them as a leading solution provider. Investor confidence is high, following a previous $120 million funding round earlier in 2023.

Certiverse Secures $11M Series A Funding Led by Cherryrock to Revolutionize Certification Platforms

Certiverse Secures $11M Series A Funding Led by Cherryrock to Revolutionize Certification Platforms

Bysupport

Certiverse, a certification platform founded in 2023 by Ruben Garcia, Pablo Meyer, and Federico Lopez, has raised $11 million in Series A funding led by Cherryrock Capital. The company aims to transform the certification industry by offering a cost-effective solution for organizations to develop exams, significantly reducing costs compared to traditional methods. Certiverse collaborates with notable organizations like The Linux Foundation and HashiCorp, allowing clients to create multiple exams efficiently. The new funding will enhance the platform’s automation features and support its goal of onboarding 1,000 new clients. To date, Certiverse has raised over $16 million.

MSCI and Swiss Re Join Forces to Combat Climate Risk in the Financial Sector

MSCI and Swiss Re Join Forces to Combat Climate Risk in the Financial Sector

Bysupport

MSCI has partnered with Swiss Re Reinsurance Solutions to address climate risks in the reinsurance industry, aiming to help financial institutions assess and manage these risks effectively. MSCI will provide advanced analytical tools, while Swiss Re will leverage its innovative insurance solutions. The collaboration features MSCI’s GeoSpatial Asset Intelligence and Swiss Re’s CatNet Tool, both designed to enhance risk assessments and resilience against climate-related threats. This partnership aims to equip financial entities with asset-level insights and comprehensive risk management strategies, supporting a more resilient financial sector in the face of climate change challenges.

Global Payments Acquires Worldpay for $24.25B and Divests Issuer Solutions for $13.5B: A Major Shift in Fintech Landscape

Global Payments Acquires Worldpay for $24.25B and Divests Issuer Solutions for $13.5B: A Major Shift in Fintech Landscape

Bysupport

Global Payments, based in Atlanta, has announced major changes in the financial sector by agreeing to sell its Issuer Solutions business to FIS for $13.5 billion and acquire payment processing giant Worldpay for $22.7 billion. The Worldpay acquisition totals $24.25 billion, including tax assets. This merger will combine their services, benefiting over 6 million customers and processing approximately 94 billion transactions worth $3.7 trillion globally. CEOs Cameron Bready and Charles Drucker highlighted the strategic focus and enhanced capabilities this partnership brings, aiming to create a robust platform for e-commerce and support small and medium-sized businesses in key growth areas.

Navigating the Open-Source AI Debate: The Dangers of Selective Transparency in Artificial Intelligence

Navigating the Open-Source AI Debate: The Dangers of Selective Transparency in Artificial Intelligence

Bysupport

The concept of open-source AI is often misunderstood, as many AI systems lack transparency regarding their creation. Open-source AI implies that code is publicly accessible for examination and modification, but proprietary models often obscure their algorithms and datasets. Key challenges include the complexity of AI systems, legal restrictions, and ethical concerns that hinder true openness. Genuine accessibility fosters innovation, trust, and community engagement in AI development. Mislabeling AI as open source without transparency can mislead users, highlighting the need for clearer discussions about AI ethics and accessibility. For more insights, explore additional resources on open-source technologies.