NAVER D2SF Makes Additional Investment in Homomorphic Encryption Startup Desilo
NAVER D2SF Makes Additional Investment in Homomorphic Encryption Startup Desilo
NAVER D2SF Makes Additional Investment in
Homomorphic Encryption Startup Desilo
- With its proven technological capabilities following seed investment in June 2020, Desilo expects to break new ground for secure data transactions
- Desilo is leaping to the lead in homomorphic encryption technology with additional Series A funding
2021-07-27
NAVER D2 Startup Factory (D2SF) announced that it has made a follow-on investment in Desilo, a homomorphic encryption startup in which it previously raised a seed investment back in June 2020.
Desilo is currently in the process of developing a homomorphic-encrypted data analysis and transaction platform. Homomorphic encryption is an innovative technology that allows for data analysis while still encrypted. The technology has been drawing global attention amidst inactivity in data transactions since governments around the world are reinforcing privacy regulations and enterprises are not willing to disclose data assets.
Desilo’s data transaction platform fully enables data-binding analysis and transactions while securely protecting original data by strictly blocking out sensitive information and preventing leakage. It is currently accumulating references of its data protection capabilities, and will launch a beta version later this year.
The startup company has already demonstrated its technological capabilities with a win in the global security genome analysis competition iDash, beating some of the world’s most renowned enterprises and research institutions, such as Alibaba and Yale University.
“Desilo is a leader in homomorphic encryption that has proven itself in the global market and has successfully deployed its technology in a business setting,” said Yang Sang-hwan, leader of NAVER D2 Startup Factory. “We hope that it will continue to demonstrate strong growth and build a more reliable data transaction market. As Desilo’s first institutional investor, NAVER D2SF will be providing the best assistance it can to help the business take off and create synergies with NAVER.”
Lee Seung-myung, CEO of Desilo, said, “With the data industry’s rapid growth in recent years, data privacy has been a major topic of conversation in global business. Desilo will bring a new paradigm of data utilization through products equipped with homomorphic encryption and other security technologies, and will build an essential infrastructure for the future of the data industry.”
Since its launch in 2015, NAVER D2SF has actively supported partnerships by investing early in diverse technology startups. Today, NAVER D2SF continues to promote and advocate for cooperation with follow-on investments in its startup partners. The achievements made through collaboration between NAVER and startups are also increasing steadily.
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