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Pyte raises USD 5 million to commercialize product
Digital Privacy Tools
Jun 13, 2024
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Digital Privacy Tools

Digital Privacy Tools

Jun 13, 2024

Pyte raises USD 5 million to commercialize product

Funding

  • Pyte, a startup developing secure data collaboration solutions, has raised USD 5 million in funding led by Myriad Venture Partners, with participation from Innovation Endeavours, Liberty Mutual Strategic Ventures, and Pillar VC. The company's total raised funding stands at USD 12 million.

  • Pyte plans to use the funds to commercialize its product in new industries, including highly regulated areas such as healthcare and financial services.

  • It has developed a secure computation platform leveraging secure multi-party computation (SMPC) that allows enterprises to use and collaborate on sensitive data without putting it at risk. SMPC allows users to run AI and ML operations on data without requiring it to move or decrypt.

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