Decentriq has raised US$3.8 million in a seed round, as was reported in a press release. Investors included the venture capitalists btov Partners, Paladin Capital Group and Atlantic Labs.
The Zurich startup impressed with its confidential data software platform. This enables organizations to manage, analyze and share internal and external data without needing to trust a third party. The data is always encrypted while in use. The solution can also be used in the cloud.
Before, initiating a data partnership would be a very time-consuming and expensive process for companies, as Maximilian Groth, co-founder of Decentriq, explained in the press release. The startup’s platform now enables encrypted data to be processed much more quickly, without compromising on data privacy or protection. This is essential, as business models increasingly rely on big data.
Decentriq is a founding member of the Confidential Computing Consortium. This organization was created together with IT giants such as Google and Alibaba with the aim of addressing computational trust and security for data in use.
Decentriq intends to use this capital to expand internationally, while also growing its client base. So far, the startup’s platform has above all been used by companies in the financial services and healthcare industries.
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