One could report on successful projects by Israeli companies almost every hour. And no, the high-tech industry is not in a crisis because of the normalization of the separation of powers according to democratic standards.
Also, the reform is not responsible for falling Shekel or declining investments in the high-tech industry. Rather, this is due to global forces as the world is in crisis and recession fueled by dictatorships like Russia, China and Iran. Unfortunately, the left and wokes in the free West is globally on the side of these dictatorships.
The recent press release makes all left rants silent: “Chain Reaction, a semiconductor company focused on disruptive blockchain and privacy hardware based in Tel Aviv, announced today that it raised $70 million in its Series C funding round led by Morgan Creek Digital and participation from Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management, and BlueRun Ventures.
The new round brings total funding to $115 million and will be used to expand the engineering and development teams, which have grown to 100 full-time employees, including top talent from Nvidia, Mellanox, Israeli Intelligence, and TSMC.
The round will expedite deployment of enterprise-grade blockchain solutions – Application Specific Integrated Circuits (ASICs) and systems. It will also scale Chain Reaction’s privacy tech solutions involving the design of cloud data center infrastructure to accelerate privacy enhancing technologies (PETs).
“Enabling real time compute on encrypted data is the holy grail of cloud computing. Chain Reaction is on the cusp of making this a reality by accelerating PETs, said Alon Webman, co-founder and CEO of Chain Reaction. “Our technology will enable enterprise and government to modernize compute infrastructure by moving private data to the cloud.”
The additional investment ensures that Chain Reaction can continue focusing on crafting and delivering products for its two target markets. Driving high-performance hardware for blockchain and privacy in data center and cloud, creating bleeding-edge solutions for markets that are still in their infancy.”
Chain Reaction anticipates general availability of its first blockchain hardware chips and systems in the first quarter of 2023. Chain Reaction is engineering the future of disruptive blockchain and privacy technologies. The 3PU™ (Privacy Preserving Processing Unit) dramatically accelerates real-time operations of PETs on encrypted data, transforming the cloud into a trusted environment.