Fhenix develops a Layer 2 for Ethereum that enables confidential smart contracts via fully homomorphic encryption (FHE). The company released the initial version of its testnet, Helium, which lets developers deploy confidential smart contracts and encrypt all or part of their applications. Fhenix aims to bring privacy and confidentiality features to Ethereum applications through its FHE-powered stack. The startup plans to use the new funding to expand operations and accelerate development efforts. Financially, Fhenix closed a $15M Series A and has raised a total of $22M to date. The company is based in Tel Aviv and is focused on advancing its testnet and developer adoption. Fhenix provides a confidential blockchain powered by fully homomorphic encryption (FHE) that enables encrypted smart contracts and encrypted computation while allowing developers to use Solidity and familiar Ethereum tooling. The company offers fhEVM, which lets Ethereum developers build encrypted smart contracts and perform encrypted computation of data. fhEVM was originally developed by Zama and integrated into the Fhenix Network through a strategic partnership. Fhenix launched a private devnet in July 2023 and intends to bring its network into a public testnet called "Renaissance" in the first half of 2024. The company plans to use the $7M Seed to support ecosystem application development and to fund the public testnet launch. Led by CEO Guy Itzhaki and based in Tel Aviv, Fhenix aims to bring encrypted‑data computation to smart contracts, transactions and on‑chain assets.

Total raised

$22M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2024