Zama, an open-source encryption company that helps developers build privacy-protecting applications, announced the completion of a $73 million Series A financing round. Multicoin Capital and Protocol Labs led the round, with participation from Metaplanet, Blockchange Ventures, Vsquared Ventures, Stake Capital, Filecoin founder Juan Benet, Solana co-founder Anatoly Yakovenko, and Ethereum co-founder and Polkadot co-founder Gavin Wood.Zama's technology focuses on fully homomorphic encryption (FHE) to enhance data confidentiality. The company plans to use the funding to continue developing its FHE tools with the goal of achieving a thousand-fold increase in performance to support larger-scale applications.​​