Israeli startup Fhenix raises $15m to bring confidentiality to Ethereum with fully homomorphic encryption

Israeli startup Fhenix has secured $15m in Series A funding led by Hack VC, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures, and Stake Capital. The company aims to bring confidentiality to Ethereum through a Layer 2 powered by fully homomorphic encryption (FHE). Fhenix plans to use the funds to expand operations and development efforts, and has also released the initial version of its testnet, Helium, allowing users to deploy confidential smart contracts to the network using FHE.