Crypto chip company Ingonyama completes $20 million in seed round financing, led by Walden Catalyst

Semiconductor company Ingonyama announced the completion of a US$20 million seed round of financing, led by Walden Catalyst, with participation from Geometry, BlueYard Capital, Samsung Next, Sentinel Global, etc. It is reported that the products of many participating companies 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 designed to accelerate advanced encryption, specifically for zero-knowledge proofs and fully homomorphic encryption. Until the chip is ready, the company is developing open source software on GPUs to run the same cryptography efficiently. (CTech)