Privacy technology startup Silence Laboratories raises $4M led by Pi Ventures, others

Privacy technology startup Silence Laboratories has raised $4.1 million in a funding round aimed at advancing data privacy solutions for enterprises. The round was led by Pi Ventures and Kira Studio, with participation from angel investors, including Anurag Arjun. 

Enabling secure data collaboration

Founded in 2021 by Prakash, Andrei Bytes and Tony Quek, Silence Laboratories is at the forefront of addressing one of the most critical challenges in the digital age: ensuring data privacy and security. The startup specializes in enabling secure data collaboration without compromising sensitive information, leveraging MPC technology.

This approach allows enterprises to process and analyze data collaboratively while maintaining the confidentiality of their information.

Silence Laboratories products 

Silence Laboratories offers two flagship products, Silent Shard and Silent Compute, which utilize MPC technology to prevent private key theft and enable private data analysis, respectively. The startup said that the technology ensures that enterprises can work together without the risk of exposing sensitive data, a crucial factor in sectors like finance and healthcare, where data privacy is paramount.

Creating a global data collaboration network 

Silence Laboratories plans to use the raised capital for scaling its technology and business teams, as well as investing in research and development. The startup aims to create a global data collaboration network that ensures data privacy and protection for enterprises. It also looks to expand its customer base beyond digital wallets to include financial institutions.

Commenting on the announcement, Silence Laboratories CEO and founder Dr Jay Prakash said: “In today's digital ecosystem, trust and privacy are not merely options but imperatives for sustainable growth. With this new injection of funds, Silence Laboratories is poised to redefine privacy by enabling businesses to fully embrace the power of AI while rigorously protecting their most vital asset – customer trust. Our privacy-enhancing technologies assure that collaboration and innovation can flourish in an environment where the confidentiality and integrity of data are uncompromised.”