Silence Laboratories Secures $4.1M to Advance Cryptographic Security Solutions
Silence Laboratories, a pioneering cryptographic security startup, has successfully raised $4.1 million in its latest funding round. This investment, co-led by Pi Ventures and Kira Studio, along with participation from angel investors, brings the company’s total funding to $6 million. The capital will fuel team expansion and accelerate research and development (R&D) efforts.
Revolutionizing Data Privacy with Multiparty Computation (MPC)
Founded in 2021 by Dr. Jay Prakash (CEO), Dr. Andrei Bytes (CTO), and Dr. Tony Quek, Silence Laboratories specializes in multiparty computation (MPC)—a cutting-edge cryptographic technique that enables secure collaboration between parties without exposing sensitive data.
Key Benefits of MPC Technology:
- Enhanced Privacy: Enables secure data processing without revealing raw information
- Reduced Risk: Eliminates single points of failure in cryptographic systems
- Regulatory Compliance: Helps enterprises meet stringent data protection requirements
“We identified a critical product-market fit in privacy-preserving decentralized authorization while working with early customers in digital asset management,” explained Dr. Prakash. “Our solutions address the fundamental challenge of secret exposure—whether data is at rest or in use.”
Addressing Growing Data Privacy Concerns
With global data privacy regulations tightening and consumer awareness rising, enterprises face increasing pressure to secure sensitive information. Traditional data processing methods often require centralized storage, creating vulnerabilities that MPC technology effectively mitigates.
“Current approaches to credit scoring, financial risk analysis, and anti-money laundering require pooling data in one location,” noted Prakash. “This creates unacceptable risks and discourages collaboration. Our technology enables secure, privacy-guaranteed partnerships that yield better insights.”
Product Portfolio: Silent Shard and Silent Compute
Silence Laboratories offers two flagship MPC-based solutions:
1. Silent Shard
- Security-audited by Trail of Bits
- Protects sensitive private keys through advanced authorization protocols
- Reduces exposure risks in cryptographic operations
2. Silent Compute (Recently Launched)
- Enables secure multi-party data processing
- Maintains data privacy while allowing collaborative analysis
- Ideal for compliance-sensitive industries
Market Traction and Growth Strategy
The startup currently serves 20+ enterprise clients, including notable names like BitGo, MetaMask, and EigenLayer—the latter recently securing \(100 million from Andreessen Horowitz. Silence Laboratories operates on a **B2B licensing model**, generating approximately **\)500,000 in annual recurring revenue**.
“Our pricing scales based on customer needs,” explained Prakash. “We cater to everything from early-stage companies requiring basic support to large enterprises needing specialized features.”
The Expanding MPC Market Landscape
The privacy-enhancing technology sector, including MPC solutions, is projected to grow from \(2.4 billion in 2023 to \)25.8 billion by 2033—a 26.6% CAGR. This growth is driven by:
- Increasing cryptocurrency adoption
- Stricter data protection regulations
- Growing enterprise demand for secure collaboration tools
Recent industry movements underscore this trend, including Coinbase’s acquisition of Unbound Security (2021) and Blockdaemon’s purchase of Sepior (2022).
“The Silence team brings deep cryptographic expertise to groundbreaking privacy infrastructure,” said Anurag Arjun, founding partner at Kira Studio and Polygon co-founder. “The combination of privacy-preserving technology with blockchain and fintech applications represents a massive opportunity.”
For more insights on cryptographic security trends, see our related coverage on Blockdaemon’s acquisition strategy and quantum-ready security solutions.
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