Silence Laboratories Raises $1.7 Million in Seed Funding Round

Image 1 : Silence Laboratories Team
Image 1 : Silence Laboratories Team

Singapore-based Silence Laboratories is a Web3 focused cybersecurity initiative running on MPC and Proofs-based Discentralized Security-as-Service (DSaaS) libraries. Silence Laboratories announced that they closed their seed round, led by Pi Ventures at the end of August, with an investment of $1.7 million. Also in the round were leading angel investors such as imToken startups, Daniel Ari Friedman, Mahin Gupta, CK Vishwakarma, Priyeshu Garg, Ashish Tiwari. It is built on a unique combination of core technologies, multi-party computing (MPC), detection and intelligent signal processing, supporting developer-oriented decentralized and high-grade security for digital assets with key management, distributed signature and authorization functions.

Silence Laboratories will use this funding to further expand its product line and  strengthen its team for its developer-centric decentralized security stack. Additionally, it will be able to scale their go-to-market operations to help businesses adopt cutting-edge authentication and authorization techniques.

Creating a developer-oriented cryptographic stack and democratizing non-trivial libraries, Silence Laboratories is working hard to develop its flagship products, Silent Shard and Silent Auth, especially in the Web3 ecosystem.

Image 2 : Silnece Laboratories Website
Image 2 : Silnece Laboratories Website

“Account takeover, caused by the single point of failure of private keys, is on a unique rise and is affecting businesses and different sectors of Web3 businesses. For this reason, the internet is witnessing a growing push towards distributed authentication protocols and signature schemes, and Silence Laboratories is at the forefront of this revolution,”says Jay Prakash, CEO and Co-Founder of Silence Laboratories. Wallet cloning, browser wallet extension attacks, phishing DEX and CEX websites are all examples of compromised bad authentication practices on Web3. “We want Web3 employees to talk to us to fix this. We are happy to make special collaborations when necessary, but we have to do it together as an industry,” he said.

Andrei Bytes, CTO and Co-Founder of Silence Laboratories, “Our cryptographic libraries hope to remove several active attack vectors that are common in the industry today,” he said . “In our quest to facilitate easier adoption of our libraries and help businesses thrive together, we have recently joined leading global alliances such as the MPC alliance and the Decentralized Identity Foundation (DIF).

“Problems with private key management led to the loss of billions of dollars in 2022 alone. The holy trinity of solid security, great user experience and developer friendliness for Web 3 has not yet been solved, and we believe that the team at Silence Laboratories is the best. Jay and Andrei bring complementary skill sets, and the first draws are proof of their innovative solutions. We have been extremely impressed with the team at Silence Laboratories and are excited to support them in these times of constant hacking,” he said. Shubham Sandeep , MD Pi Ventures 

Startup company Silence Laboratories is now working with local and international collaborations to establish an applied Cryptography and Web3 Security enterprise R&Dec center in South Asia. 

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