31 August 2022, Singapore — Located in Singapore and working on libraries for MPC and Proofs-based Decentralized Security-as-Service (DSaaS), Silence Laboratories is a web3-focused cybersecurity firm. Pi Ventures led the company’s USD 1.7 million round of seed funding. Their core technology is based on a particular combination of multi-party computation (MPC), sensing, and intelligent signal processing. It supports developer-focused decentralized and high-grade security for digital assets with crucial management, distributed signature, and authorization functionalities.
Famous angel investors, including Daniel Ari Friedman, Mahin Gupta, CK Vishwakarma, Priyeshu Garg, Ashish Tiwari, and others joined ImToken Ventures, a web3-focused firm, in the round. The business plans to use the money to increase its workforce, scale its go-to-market operations, and expand its product line to include a developer-focused decentralized security stack. These initiatives will help firms deploy advanced authentication and authorization procedures.
Silence Laboratories (SL) is driven to democratize non-trivial libraries and is on a mission to create a developer-focused cryptographic stack. For developing its essential products, Silent Shard and Silent Auth, SL has been collaborating closely with several top companies, particularly in the Web 3 ecosystem. They are made to support a wide range of authentication and authorization requirements with a high degree of contextualization, whether they come from high-risk digital asset custodians, non-custodial digital wallets, semi-custodial phone-based wallets, online exchanges with high usability standards, or cloud service providers focused on the web 3.
Jay Prakash, co-founder, and CEO of Silence Laboratories:
“The number of account takeovers caused by single points of failure in the private keys is on the rise, and these incidents have been harming organizations across all Web3 industries. Therefore, distributed authentication protocols and signature schemes are becoming more popular online, and Silence Laboratories is leading this revolution. A few compromising examples of poor authentication procedures in Web3 include wallet cloning, browser wallet extension hacks, and phished DEX and CEX websites. We want to discuss solving this with Web3 people. If there is a need for customized partnerships, we are happy to do so, but the industry must act as a whole.”
According to Andrei Bytes, CTO and Co-Founder at Silence Laboratories:
“Our cryptography libraries aspire to remove multiple active attack vectors in the business today. We have joined prestigious worldwide alliances like the MPC alliance and the Decentralized Identity Foundation in our effort to encourage faster adoption of our libraries and aid enterprises thrive together (DIF).”
More about the company:
With domestic and foreign partnerships, Silence Laboratories is attempting to establish an Applied Cryptography and Web3 Security business R&D center in South Asia. The center will draw some of the brightest minds on the planet to help solve complex problems with practical security and MPC algorithms. It will also serve as the foundation for several new ventures and technologies.
Silence Laboratories welcomes collaboration and R&D calls with partners from the Web3 and hybrid Web2 sectors of business.
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