8 Best Homomorphic Encryption Startups to Watch in 2025

The Definitive Seedtable Ranking of Homomorphic Encryption Startups

We track 71,000+ companies and rank them dynamically using our Seedtable Score – a score that uses quantitative and qualitative data points to signal the momentum behind a company. We then monitor the list manually leveraging our expertise as founders and investors.

There are 8 start-ups with an aggregate funding of $221.9m. The average funding per company in this subset is $27.7m.

Last update to the database: Feb 18, 2025. See changelog.

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Enveil logo

Enveil

Enveil is a Fulton, Maryland-based data security and privacy security technology company.

5

Funding Rounds

$40.0m

Money raised

Decentriq logo

Decentriq

Decentriq is a company combining machine learning and cryptography to analyze any dataset.

5

Funding Rounds

$18.8m

Money raised

SemioticLabs logo

SemioticLabs

Condition Monitoring service based on Machine Learning and proprietary sensors.

2

Funding Rounds

$640.0k

Money raised

Inpher logo

Inpher

Inpher is an analytics company.

5

Funding Rounds

$14.0m

Money raised

Duality Technologies logo

Duality Technologies

Duality Technologies combine Advanced Cryptography with Data Science to deliver High-Performance Privacy-Protecting Computing to Regulated Industries.

5

Funding Rounds

$90.0m

Money raised

Cosmian logo

Cosmian

Cosmian is a blockchain company founded in 2018 by David Gurle, Raphael Auphan, Sandrine Murcia and Bruno GRIEDER.

2

Funding Rounds

$3.2m

Money raised

DataFleets logo

DataFleets

DataFleets is a privacy-preserving data engine that unifies distributed data for rapid access, agile analytics, and automated compliance.

2

Funding Rounds

$4.5m

Money raised

Zama logo

Zama

Zama is a privacy-preserving homomorphic encryption platform founded in 2020.

2

Funding Rounds

$50.8m

Money raised