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Zama announced a $73 million Series A on March 7, 2024, to advance its fully homomorphic encryption (FHE) technology and support partner deployments. The company said Multicoin Capital and Protocol Labs co-led the round. Zama’s FHE work is aimed at enabling computation on encrypted data, with its fhEVM software focused on confidential smart contracts.
What Zama announced in March 2024
Zama founder and CEO Rand Hindi announced the $73 million Series A on March 7, 2024. Zama named Multicoin Capital and Protocol Labs as co-leads, alongside participation from Metaplanet, Blockchange, VSquared, Stake Capital, Portal Ventures, and other strategic founders. These details come from Zama’s announcement.
The company framed the funding as support for its FHE research and partner deployments. It also described confidential blockchain applications as a central use case, particularly through fhEVM, its solution for building confidential smart contracts in Solidity.
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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsWhat Zama’s FHE solution is designed to do
Fully homomorphic encryption is designed to let software perform computations on encrypted data without first decrypting it. In a blockchain context, Zama’s fhEVM developer software is intended to let developers create Solidity smart contracts that handle confidential onchain applications. The core promise is that information can remain encrypted during computation; that does not by itself guarantee that every part of an application, its inputs, or its data flows is confidential.
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Zama describes itself as an open-source cryptography company focused on FHE solutions for blockchain. Its About page and FHE-on-blockchain documentation explain the company’s scope and its description of how FHE can be used in blockchain systems.
How the 2024 raise fits Zama’s funding timeline
| Announcement | Funding and stage | Product context |
|---|---|---|
| March 7, 2024 | $73 million Series A, announced by Zama; co-led by Multicoin Capital and Protocol Labs. | Emphasis on FHE research, partner deployments, and fhEVM for confidential smart contracts. |
| June 25, 2025 | $57 million Series B at a valuation above $1 billion, announced by Zama. | Introduced the Zama Confidential Blockchain Protocol, a confidentiality layer the company says is designed to work on existing chains. |
The later Series B means the $73 million Series A is a historical funding milestone, not the latest financing reported in these announcements. Zama’s June 2025 announcement describes the protocol as supporting encrypted transaction inputs and state, composability, and programmable access to decryption. Those are the company’s product descriptions, not independent verification of performance, scalability, or security.
What the funding announcement says about performance
In March 2024, Zama said its FHE scheme had become 20 times faster since the company’s founding and said it was “on track to reach 100x soon.” The 100x figure was a forward-looking target in that announcement, not a result it said had already been achieved.
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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →In June 2025, Zama said its technology was over 100 times faster than five years earlier. This is a company-reported comparison with a different time baseline from the 2024 statement. Neither figure is an independently audited benchmark in the cited announcements, so they should be read as Zama’s performance claims rather than a like-for-like external comparison.
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What the announcement does—and does not—establish about hardware
Zama’s March 2024 announcement said dedicated FHE hardware accelerators were expected “in the next two years.” That was a dated roadmap expectation. The announcements and product pages cited here do not establish that such accelerators are now commercially available.
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