Introduction
In the digital age, data security and privacy protection have become a focus of concern for businesses and individuals. With the rapid development of artificial intelligence and machine learning technologies, how to fully utilize data resources without leaking data has become an urgent problem to be solved. On June 12, 2024, Pyte announced the completion of $5 million in new funding, bringing new hope to the field of data security computing.
Funding Details
Pyte, an AI data security computing platform based in Los Angeles, USA, successfully raised $5 million in a new round of funding led by Myriad Venture Partners. Other investors include Innovation Endeavors, Liberty Mutual Strategic Ventures, and Pillar VC. This funding will be used to accelerate the commercialization process of Pyte's secure computing platform and further promote its innovation and development in the field of data security.
Pyte's Innovative Technology
Founded in 2020, Pyte focuses on providing data security collaboration solutions. Its core technology allows for computation on encrypted data without decryption, ensuring that enterprises can seamlessly utilize their data resources while complying with privacy regulations and preventing data leaks. Pyte's proprietary Secure Multi-Party Computation (SMPC) cryptographic technology, based on ten years of academic research by company co-founders Sadegh Riazi and Ilya Razenshteyn, can easily run AI or ML computations on encrypted data without the need to move or decrypt sensitive data.
Team Strength
Pyte's team consists of six doctoral graduates, including three world-leading experts in the field of secure computing and three ICPC gold medalists. Such a team configuration not only demonstrates Pyte's technological strength but also reflects its professionalism and focus in the field of data security.
The Future of Data Security
As data security regulations become increasingly stringent, the demand for data privacy protection by businesses and individuals is also growing. Pyte's innovative technology brings new solutions to the field of data security and is expected to lead a new era of data privacy protection. Through its advanced SMPC technology, Pyte can not only protect the security of data but also improve the efficiency of data utilization, creating greater value for businesses and individuals.
Conclusion
Pyte's new round of funding is not only a recognition of its technological strength but also an expectation for its future development in the field of data security. We have reason to believe that with the continuous maturation and commercialization of Pyte's technology, it will bring revolutionary changes to the global field of data security and make an important contribution to the data privacy protection of human society.
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