The bespoke silicon vendor Niobium, situated in Dayton, OH, has secured $5.5 million in seed money.
Investors
- Fusion Fund (led the funding round)
- Ohio Innovation Fund
- Hale Capital
- Morgan Creek Capital
- Rev1 Ventures
- Shane Wall
- a Fusion Fund partner
- president of CXO Network
- a former CTO of Hewlett Packard
- the global head of HP Labs
Use of funds
The funds will be used by the company to create commercial applications for FHE acceleration, such as digital advertising, blockchain public ledgers, financial fraud detection, healthcare and pharmaceutical research, and other use cases where sharing and analyzing data while upholding total privacy is crucial.
Other offices
- Portland
- Oregon
- San Francisco,California
- Columbus, Ohio
“Securing this financing validates the groundbreaking work we’re doing at Niobium and propels us into the next critical phase of bringing our FHE accelerator chip to market. We are getting closer to realizing our goal of using modern encryption to redefine data security and privacy. With this funding, we can accelerate the investigation of applications that demand complete data privacy, creating new opportunities for secure computing in a range of sectors. We appreciate that our investors share our vision for a future where digital technology is more private and secure.”
Kevin Yoder
About Niobium
Under the direction of CEO and President Kevin Yoder, Niobium creates specialized hardware for zero trust computing and advances fully homomorphic encryption (FHE) into marketable applications. This method provides a new class of mathematically assured privacy-preserving multi-party machine learning and statistical analysis applications by maintaining data encryption even during computation.
