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Desilo, a Korean Security Startup, Secures Investment with Homomorphic Encryption Tech

2024-03-28 2 min read


Desilo, a Korean Security Startup, Secures Investment with Homomorphic Encryption Tech

Reading Time: 2 minutes

South Korean cybersecurity technology startup, Desilo, has secured investment from SV Investment and the Korea Development Bank (KDB). The company aims to leverage this funding to make detailed preparations for entering the North American data market.

Desilo has created the “Desilo Data Cleanroom,” a solution that enables the analysis of data at high speed and with great accuracy, without compromising data assets. This is possible thanks to their use of homomorphic encryption technology, which can process data while it remains encrypted. This innovation, which allows for the safe use of sensitive data without the risk of leaks, has garnered attention from various global companies looking to safeguard their data assets.

Desilo has not limited itself to technology research and development; it has actively engaged in solving real-world problems for corporate clients, thus demonstrating the value of its technology from a business perspective. In 2022, the company partnered with Hana Bank to commercialize the financial industry’s first service based on homomorphic encryption. In October 2023, Desilo launched its SaaS-based data analysis platform, the “Desilo Data Cleanroom,” achieving significant revenue generation.

Joo-wan Jeong, the director at SV Investment who led this investment, remarked, “This is the first instance of direct investment in homomorphic encryption by the domestic financial industry (KDB). Desilo possesses a team of global top-tier talent in the realm of homomorphic encryption and is anticipated to become a pivotal AI business hub, serving as a private data trading platform in the future.”

Seungmyeong Lee, CEO of Desilo, expressed, “Since our inception, we have been focused on advancing our R&D capabilities while validating our products in the domestic market. This investment marks a significant milestone, and we are now setting our sights on the North American market.”

Desilo, established in 2020 by experts in AI, data analysis, and encryption technology, has previously received investments from notable entities such as Naver D2SF and LG Electronics.

[Korea Security Startup News]

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