New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

ArticleForeign startupsRandom

Ingonyama, A Chip Company Raises $20 Million In Seed Round

1 Mins read

Ingonyama, a semiconductor company, has successfully raised $20 million in a seed funding round, marking a significant milestone in its journey. The funding round was led by Walden Catalyst, a leading investor also associated with AI21 Labs, and included notable venture capital funds such as Geometry based in London, BlueYard Capital in Germany, Samsung Next, Sentinel Global, and others. Several participating companies in this round, including Israeli firm StarkWare, heavily rely on zero-knowledge proof technology in their product offerings.

Ingonyama’s CEO and Co-Founder, Omer Shlomovits, emphasized the strategic selection of investors who possess a profound understanding of cryptography, the core field in which Ingonyama operates. Shlomovits highlighted the company’s focus on developing technology that enhances privacy in previously challenging environments.

This venture marks Shlomovits’ third entrepreneurial endeavor, with his previous experience including a four-year tenure at crypto company Zango, where he worked on cryptography and open-source code. Reflecting on his journey, Shlomovits expressed a preference for the initial stages of company development.

Founded in 2022, Ingonyama is headquartered in Petah Tikva with a team of approximately 25 professionals. Shlomovits, a graduate of the elite IDF intelligence Unit 8200, leads the company alongside CTO Michael Asa and VP R&D Danny Sterman, both seasoned engineers with extensive experience in the chip industry.

Ingonyama distinguishes itself as a next-generation semiconductor company, and its inaugural chip is a programmable parallel computing processor, akin to a GPU. However, it is explicitly designed to accelerate advanced cryptography, with a focus on zero-knowledge proofs and fully homomorphic encryption. As the company works towards the completion of its chip, it currently collaborates with GPUs, developing open-source software that efficiently runs the same cryptography.

As I come to a close, it is important to reiterate that Ingonyama’s successful seed funding round underscores the recognition of its potential in the semiconductor space. With a focus on advanced cryptography, zero-knowledge proofs, and fully homomorphic encryption, Ingonyama is poised to contribute significantly to the evolving landscape of secure and private technologies. As the company progresses, it remains dedicated to leveraging its expertise to develop innovative solutions in the semiconductor realm.

Don’t miss any tech news ever!

We don’t spam! Read our privacy policy for more info.

288 posts

About author
We are the same, we may only be different in our experiences, values and exposures. Technology is a big part of my experience, learning is one of my values and writing my credible means of exposure.
Related posts

Oligopoly Concerns: NATCOMS Begs NCC To Halt MTN’s Move To Acquire 9mobile?

2 Mins read
In a dynamic and rapidly evolving sector like telecommunications, regulatory interventions can significantly impact the competitive landscape. Striking the right balance between… Like this:Like Loading...

Cryptocurrency: 3 Cryptos To Consider With 500x ROI Potential

2 Mins read
Amidst the waves Cryptocurrency has made since its inception, the industry has remained a mystery to some people due to its intangibility… Like this:Like Loading...
ArticleMobileRandomWeekend Vibes

Photography: Best Camera Phones In 2023

3 Mins read
Saturdays are for parties. The interesting thing about parties aside the food and the music is the scenery; and the best way… Like this:Like Loading...
Newsletter Subscription

🤞 Don’t miss any update!

We don’t spam! Read more in our privacy policy

Join our Telegram channel here -

Leave a Reply

%d bloggers like this: