Zurich - Decentriq has closed a Series A funding round, strengthening its capital base by US$15 million. The startup intends to use the money to develop data clean rooms that enable companies to collaborate on the most restricted and sensitive data.

Decentriq has received fresh funds of US$15 million, as was reported in a press release. The cloud computing startup based in the Greater Zurich Area will use the investment to further accelerate the development and commercialization of its software platform for data. Decentriq says its clean rooms provide a space for secure and compliant data collaboration between companies pursuant to the EU’s General Data Protection Regulation, GDPR.

Encryption and anonymization enables “companies to collaborate on the most restricted and sensitive data in a secure and GDPR compliant manner to unlock new value and deeper insights,” said Decentriq’s CEO Maximilian Groth.

Underlying the SaaS software platform developed by Decentriq is Confidential Computing. Using “AI, state-of-the-art encryption and privacy-enhancing technologies” unlocks “a whole new dimension of data collaboration between enterprises – without sacrificing privacy and regulatory requirements,” said Kushagra Vaid, Partner at Eclipse Ventures, which led the Series A funding round. With investment from venture capitalists btov PartnersPaladin Capital Group and Atlantic Labs, existing investors also participated in the round. 

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