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Leeds-based photonic chip company Optalysys raises £21 million to unlock its Fully Homomorphic Encryption process

📅 Date:

✍️ Author: Fiona Alston

🔖 Topics: Funding Event

🏢 Organizations: Optalysys, Exor

Photonic chip maker Optalysys has raised a £21 million Series A funding which will see it ‘advance its Enable photonic computing technology to unlock a new form of secure processing known as Fully Homomorphic Encryption (FHE)’.

Backing the company is the Agnelli family through Lingotto which is owned by Exor – the Agnelli family holding company. The round was led by Lingotto, imec.xpand, and Northern Gritstone.

FHE, a form of quantum-secure cryptography, doesn’t require the data to be decrypted before it can be processed, allowing confidential or sensitive data to be sent along untrusted networks, or to be worked on by multiple parties without ever exposing the data itself.

Read more at Tech EU