Chain Reaction to build cryptographic chips with fresh $70m

Encryption

Chain Reaction, an Israeli startup designing semiconductors for blockchain and privacy hardware, has emerged from stealth following a $70 million (£58m) Series C funding round.

The Tel Aviv-based firm’s specialty chips and related architecture are designed to support cryptographic processes, most notably in the breakthrough field of homomorphic encryption, an approach to privacy that encrypts data as it is used.

Morgan Creek Digital led this third round, taking the...