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[FUNDING NEWS] Israel-Based Startup Fhenix Secures $15 Million in Series A Funding

Fhenix, an Israeli firm based in Tel Aviv that wants to improve Ethereum's secrecy, has acquired $15 million in Series A funding.

Fhenix, an Israeli firm based in Tel Aviv that wants to improve Ethereum’s secrecy, has acquired $15 million in Series A funding.

With participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures, and Stake Capital, Hack VC led the round.

Read also – Philippines-Based Green Logistics Company Mober Secures $6 Million in Funding

The business, which has received $22 million in total, plans to utilise the money to grow both its operations and research & development.

Read also – Singapore-Based Nium Secures $50 Million in series E Round Funding

It is a Layer 2 project that uses fully homomorphic encryption (FHE) to bring secrecy to Ethereum. The Fhenix testnet’s first version, known as Helium, was made available to the public by the business. With it, users can deploy their private smart contracts to the network and encrypt all or a portion of their applications using FHE.

About Fhenix

Fhenix is for builders that are unconventional, visionary, and full of convictions who want to stand out in a sea of GitHub repos that are copy-paste and derivative. Those who have the vision and conviction to see this wider picture are in for a blue ocean of application possibilities.

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