Nillion Network Raises $25M to Boost Privacy Solutions Without Blockchain

Nillion network has just raised $25 million to expand its decentralized privacy platform. This new funding round, held on Oct. 30 and led by Hack VC, adds to Nillion’s total funding, now over $50 million. It’s their second fundraising round this year, following one in February.

Alongside Hack VC, other investors included Distributed Global and Hashkey, plus well-known figures like Ansem, Arthur Hayes, and Meltem Demirors. Leaders from companies like Worldcoin, Injective, and Sei also joined in to support Nillion’s mission.

Nillion's Blind Compute (NBC) is creating the first truly private data ecosystem. This is the next whitespace in crypto, bringing in new users and revenue streams.

Decentralize trust = unlock crypto’s full potential by making privacy a default option.

— Nillion (@nillionnetwork) October 30, 2024

Building the First “Blind Computer” for Private Data

Nillion is pioneering a new kind of privacy technology called the “Blind Computer.” This tool, hosted on the Cosmos network, allows private data to be processed off-chain without exposure. Over 40 developers are working on Nillion’s projects, coming from known platforms like Near, Aptos, Arbitrum, Mantle, IO.net, and Ritual. They’re building applications in fields like AI, private DeFi (decentralized finance), healthcare, and data marketplaces.

3/3 Nillion is already integrated with NEAR, Aptos, Arbitrum, https://t.co/osq58j5Cp8, and Ritual and offers developers a highly scalable solution. 

Learn more about Nillion: https://t.co/BlacePKTIp

— Everstake (@everstake_pool) October 30, 2024

In a statement shared with Cointelegraph, Nillion shared that its clients need secure data storage and computation for things like quantum-secure messaging and encrypted trading. Nillion co-founder Lukas Bruell explained this idea further in a video posted on Oct. 10, saying, “When you run a computation, the data is fully exposed.” Nillion’s solution creates a “private cloud environment” where data can be processed without being seen.

Nillion’s CEO, Alex Page, also shared in December 2022 that its main technology, Nil Message Compute, can work without blockchain. This privacy-first approach lets nodes process encrypted data without actually revealing it. One of their other tools, the Nada AI developer toolkit, helps make building private applications even easier.

The Coordination layer testnet is Nillion’s first step towards building a better internet.

Click to get started and earn your place in the nill army.

The future is blind.

— Nillion (@nillionnetwork) June 3, 2024

Big Milestones and New Partnerships

Nillion started three years ago with the vision of securing high-value data using decentralized tech and privacy-enhancing tools like secure multi-party computation (MPC) and homomorphic encryption. Earlier this year, in January, Nillion graduated from Cohort 0 of Beacon’s Web3 accelerator program alongside 12 other companies. In August 2024, they also connected with the Aptos network, adding another layer to their growing ecosystem.

We're thrilled to work with high value backers including: @HashKey_Capital, @MaelstromFund, @animocabrands, @chapterone, @BigBrainVC, @ManifoldTrading, @blknoiz06, @therollupco, @gametheorizing, @GSR_io, @Fiskantes, and more. pic.twitter.com/lB4WehHnYj

— Nillion (@nillionnetwork) October 30, 2024

With this new funding, Nillion is set to strengthen its position in the world of decentralized privacy solutions, providing a way for users to keep their data safe in an increasingly digital world.