Niobium, the Provider of Fully Homomorphic Encryption Chips, Secures $5.5 Million Seed Funding with Leading Investor Fusion Fund

Custom encryption chip provider Niobium announced the completion of a $5.5 million seed round of financing, led by Fusion Fund, with participation from Morgan Creek Capital, Rev1 Ventures, Ohio Innovation Fund, and Hale Capital. It is reported that Niobium is building a fully homomorphic encryption (FHE) accelerator chip and plans to commercialize it. The new funds will be used to explore the commercial applications of FHE in industries such as healthcare, finance, and blockchain. Additionally, Niobium plans to showcase the solution and launch pilot projects in the fourth quarter of this year.