Dr Nick New, the CEO of Optaylsys
Watch as he discusses how the company started, the challenges they’ve overcome and the steps they had to take to achieve Series A funding:
What is Fully Homomorphic Encryption & Series A funding?
Fully Homomorphic Encryption (FHE) is a promising new cryptographic technology that has the potential to revolutionize the way we secure and analyse data. However, FHE is also very computationally expensive, which has limited its practical applications.
With KPMG’s support, Optalysys recently obtained Series A funding to grow their business, improve the efficiency of FHE algorithms and to create new applications for the technology. Series A funding is gained by start-ups as the first round of funding after seed and angel investors. It’s typically achieved by those companies with a demonstrable business plan and growth strategy.
It can be used for a variety of topics but in general would be used in this context for:
Research and development: Series A funding could be used to fund research and development of new FHE algorithms and applications. This could lead to more efficient FHE algorithms that can be used in a wider range of applications.
Commercialisation: Series A funding can also be used to commercialize FHE technology. This could involve developing FHE-based products and services, and marketing them to potential customers.
Adoption: Series A funding can be used to promote the adoption of FHE technology. This could involve educating potential customers about the benefits of FHE, and providing them with the resources they need to use the technology.
