Silence Laboratories, a privacy tech enterprise, raised an additional $4.1 million funding round led by Pi Ventures and Kira Studio, along with several prominent angel investors.

The recent funding will act as a driving force, accelerating Silence Laboratories’ goal to transform privacy-preserving authorisation and collaborative computation, said the company.

The company’s core vision has been to remove all single points of failures and exposure in the realm of digital economies, be it for digital assets or data-sharing ecosystems. Silence Laboratories believes that privacy-enhancing technologies (PETs) like multi-party computation (MPC) are powerful tools to achieve necessary decentralisation in managing secrets, be it private keys of digital assets or enterprise data.

In doing so, the team has built software stacks based on the powerful fusion of learnings from economic securities and the transparency of blockchains, cryptographic guarantees of PETs and the value-oriented product mindsets of fintechs.

Jay Prakash, Co-Founder & CEO at Silence Laboratories said, “ Our decentralised authorisation library, Silent Shard, assists enterprises and users in distributing the risk of private key exposure and in designing innovative authorisation policies for digital assets. Additionally, we are enabling privacy-preserving collaboration among institutions with our newly launched product, Silent Compute.”

With a growing push for privacy compliances, digital asset regulations, and data and asset localisation laws, PET technologies (whose market is growing globally at a CAGR of 26.6 per cent) being built by Silence Laboratories would help enterprises provide mathematical guarantees to techno-legal expectations.

Such guarantees would foster transparent collaborations as they enable enterprises to jointly compute on data without actually getting visibility on each other’s content, hence enabling more business cases and respect for privacy guarantees, said the company.