Encryption processor firm Cornami attracts Applied Ventures
The venture capital arm of Applied Materials inc. has joined the Series C round of investment in Cornami Inc. (Campbell, Calif.), a startup aiming to support fully homomorphic encryption (FHE) in real-time.
The Series C was announced in October 2021 (see Softbank backs real-time encryption startup Cornami) and is worth more than $50 million.
FHE allows for the processing of encrypted data without the need to decrypt. It allows data analytics to be extracted without having to expose the underlying plaintext data. This applies to intellectual property, financial information, personally identifiable information (PII), customer data and so on.
Wally Rhines
Cornami was originally founded as Sviral by Gordon Campbell, Paul Master, and Fred Furtek to pursue a form of dataflow processing on a sea-of-cores processor. The company’s TruStream Programming Model (TSPM), converts source code conforming to TSPM into executable code running on the TruStream Virtual Machine.
Wally Rhines, long-time CEO of Mentor Graphics, joined Cornami as CEO in May 2020 and decided the company should focus on its ability to perform FHE in real-time.
“The availability of practical FHE introduces a sea change to the cloud computing marketplace and the entire information processing industry,” stated Rhines, in a statement.
Related links and articles:
News articles:
Softbank backs real-time encryption startup Cornami
Wally Rhines takes CEO job at ‘sea-of-cores’ startup
CEO interview: Wally Rhines on startups, AI and China
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