Digma team (Digma)
Fhenix, an Israeli startup that develops a confidential blockchain powered by fully homomorphic encryption (FHE), raised $7 million in a Seed round of funding led by Multicoin Capital and Collider Ventures. At the same time, Creednz, an Israeli startup that offers a platform to secure corporate finance teams so they can avoiud payment scams and prevent financial losses, finalized a $7 million fundraising round led by Blumberg Capital with participation from Elron Ventures and Moneta VC.
And Israeli startup Digma raised $6 million in seed funding for its continuous feedback platform to validate developer and GenAI code.
Founded in 2022 by Nir Shafrir, CEO, and Roni Dover, Chief Technology Officer, Digma is a new Continuous Feedback platform that provides developers with the data they need to own their code all the way to production. By analyzing existing observability sources (logs traces and metrics), Digma gleans critical insights on performance, errors, and usage which can be leveraged to improve code, identify hotspots and bottlenecks, and assess code changes impact. For faster feedback cycles, Digma provides code insights right in the IDE and integrates with GitOps tools.
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“Over the years we’ve been continually frustrated by a conspicuous gap emerging in the development process,” said Nir Shafrir, Digma CEO. “Businesses are losing customers due to bad code put into production, or code that doesn’t perform as it should in the real world. At the developer level, Digma solves a common problem, which is that developers get feedback too late. They are expected to deliver fast, but they can’t see how their code behaves in the real world, so they can’t make informed design decisions and assess the impact of their changes. Digma acts as a guardrail by providing continuous real-time analysis of the code, presented to the developer as they code and in the IDE before the code gets pushed to production.”
Co-founded in 2022 by, CEO Johnny Deutsch – Rivian Motors’ former CISO- and CTO Moshe Elgressy, Creednz says that by leveraging internal financial data sets enriched with externally curated intelligence, the firm enables finance teams to make informed payment decisions in real-time. The company boasts that its platform helps organizations enhance payment monitoring and oversight capabilities of highly vulnerable finance, vendor and payments processes.
“A manual process leads to fraud, and those that get blamed are the ones who literally clicked the ‘send’ button,” said Creednz CEO Johnny Deutsch. “It makes no sense in today’s world that technology isn’t being utilized and applied to prevent this in the first place. Creednz was built from the ground up to give finance teams the tools to fight back and protect against payment fraud and safeguarding corporate finances.”
Finally, Fhenix boasts that it offers a cutting-edge mathematical encryption scheme using homomorphic encryption that facilitates computations on encrypted data without the need for decryption. This enables deployment of confidential smart contracts, says the firm, ensuring that transaction inputs and states stay encrypted throughout the entire computation process.
By leveraging cutting edge Fully Homomorphic Encryption (FHE) technology, Fhenix explains that its platform enables confidentiality in Smart Contracts. FHE facilitates computations on encrypted data without the need for decryption, it explains. FHE offers the potential to enable confidential smart contracts, ensuring that transaction inputs, outputs and the blockchain’s state stay encrypted throughout the entire computation process.
“Fhenix addresses a huge problem in the Ethereum ecosystem: a lack of encryption for commercially sensitive data,” said Guy Zyskind, Fhenix and Secret founder. “Fhenix gives users the confidence to put sensitive data on public blockchains while also giving developers the tools to compute and transform that data for the first time. The acute need for data confidentiality is rapidly growing which is driving demand for innovative technologies like FHE and fostering collaborations between complementary blockchains such as Fhenix and Secret to ensure a more secure and privacy-centric future.”
