Nillion, a US-based developer of an internet infrastructure for the secure storage and computation of data, raised $20M+ in funding.
The round was led by Distributed Global, with participation from Big Brain Holdings, Chapter One, GSR, Hashkey, OP Crypto, Salt Fund, and 150+ others.
The company intends to use the funds to accelerate growth and expand operations.
Led by CEO Alex Page, Nillion provides an internet infrastructure for the secure storage and computation of data. It is a decentralized network (albeit not a blockchain) that utilizes a novel mathematical innovation called Nil Message Compute (NMC), which represents a generational leap in a technology known as secure multi-party computation (MPC), to facilitate the fragmentation of data across a network of nodes, while allowing the underlying data to be computed on at commercially viable speeds.
The project is based on a new mathematical innovation, invented by cryptography professor Dr. Miguel de Vega, called Nil Message Compute (NMC) which enables the creation of a non-blockchain decentralized network that aims to open up new, non-blockchain, decentralized use cases.
According to the company, NMC technology unlocks new utility in web3, such as decentralized credit scoring, decentralized trusted execution environments, private NFTs and decentralized secure storage services.
Nil Message Compute (NMC) was developed by Nillion’s Chief Scientist, Dr. Miguel de Vega, who has authored more than 30 patents in the fields of machine learning, data optimization and mathematics. In addition to Dr. Vega, Nillion’s leadership team includes:
- Chief Technology Officer Conrad Whelan, the Founding Engineer of Uber.
- Head of Cryptography Dr. Elizabeth Quaglia, a senior lecturer at Royal Holloway, University of London, one of the world’s leading cryptography institutions.
- Chief Executive Officer Alex Page, an ex-Goldman Sachs investment banker and Hedera SPV General Partner.
- Director of Crypto Tristan Litré, previously CTO of a DeFi platform acquired by AQRU.
- Chief Business Officer Slava Rubin, the Founder and former CEO of Indiegogo.
- Chief Strategy Officer Andrew Masanto, who started two of the top 100 cryptocurrencies – Hedera Hashgraph and Reserve.
- Head of Ecosystem Mark McDermott, previously the Lead of Innovation Partnerships at Nike.
- General Counsel Lindsay Danas Cohen, the former associate General Counsel at Coinbase and a legal counsel at Bloomberg.
FinSMEs
13/12/2022