On-chain confidential computing project Arcium has completed a $5.5 million strategic funding round led by Greenfield Capital, bringing total capital raised to $9 million.
Other participants in this round include Coinbase, Heartcore Capital, Longhash VC, L2 Iterative Ventures, Stake Facility, Smape Capital, and Everstake, as well as high-profile angel investors such as Solana co-founder Anatoly Yakovenko and Monad co-founder Keone Han.
With the new funding, Arcium plans to provide developers and blockchain applications with a trust-minimized, composable framework for cryptographic computation.
Arcium was founded by Yannik Schrade, Julian Deschler, Nicolas Schapeler, and Lukas Steiner, the team behind Elusiv, a zero-knowledge privacy protocol based on Solana. They recently reorganized to focus on providing verifiable cryptographic computation protocols targeting niche decentralized applications such as DeFi, DePIN, and RWA.
Confidential computing is a security technology that aims to protect data while it is being processed. Unlike traditional encryption, which protects data at rest (at rest) and in transit (transferring between locations), confidential computing encrypts data at every step. This approach allows for secure, distributed computation involving multiple entities simultaneously.
Arcium’s technology secures computations on encrypted data using a multi-party execution environment (MXE) that combines a variety of technologies, including multi-party computation, homomorphic encryption, and zero-knowledge proofs.
A trust-minimized framework for encrypted computation.
Yannik Schrade, Arcium’s co-founder and CEO, said the project’s approach “combines data confidentiality with seamless, fully parallel execution.” He said this achievement has not been achieved so far.
MXE is a customizable environment for confidential computation, allowing developers to deploy encrypted applications like regular smart contracts.
Prior to the mainnet launch, Arcium plans to launch a private incentivized testnet and a public testnet. Developers can now apply for the incentivized testnet.
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