Cryptographic chip company Ingonyama has completed a $20 million seed round financing, led by Walden Catalyst, a behind-the-scenes investor of AI21 Lab

ChainCatcher news, the encryption chip company Ingonyama announced the completion of a $20 million seed round financing, led by Walden Catalyst, a major investor in AI21 Lab, with participation from Geometry, BlueYard Capital, Samsung Next, Sentinel Global, and others. Many of the companies participating in this round rely heavily on zero-knowledge proof technology, including the Israeli company StarkWare.

It is reported that Ingonyama's first chip is a programmable parallel computing processor similar to a GPU, but specifically designed to accelerate advanced encryption, particularly for zero-knowledge proofs and fully homomorphic encryption. Before the chip is ready, the company is collaborating with GPU to develop open-source software that efficiently runs the same cryptography.