TEEX Receives Millions of Dollars Financing from Multiple Institutions including Sequoia Capital

TEEX, a distributed trusted computing platform, recently announced that it has received millions of dollars in first-round financing from Sequoia Capital, GBIC, NGC and IMO Ventures.

About TEEX

Data privacy is becoming a topic of intense concern around the world. A large amount of data with great value is facing the situation of poor liquidity, insufficient openness, and frequent privacy breaches. Although the circulation of data is being regulated by several countries, more security risks still need to be solved by reliable technical solutions.

Based on Trusted Execution Environment (TEE), the blockchain, cryptography and other technologies, TEEX aims to build a decentralized, privacy-secure trusted computing resource and data sharing platform. At the same time, TEEX provides a general Layer-2 privacy solution for the existing blockchain systems. By constructing a secure and convenient privacy contract execution environment, TEEX fully protects the data privacy and security during the calculation process on the chain, thus solving the traditional area of blockchain performance and privacy issues.

TEEX mainly uses TEE-based verifiable computing strategies to ensure the privacy of data and control flows during execution, while providing comparable performance and compatibility comparable to centralized computing platforms. At present, TEEX has deep cooperation with partners including artificial intelligence, big data computing, biomedical, and public chain.

Team

TEEX team members are mainly from the top academic research groups of universities at domestic and foreign. They have nearly ten years of TEE and system security research and development background, as well as rich experience in entrepreneurship and project landing.

Dr Ryan Yu, the co-founder of TEEX, introduced the goals and plans of TEEX:
“The goal of TEEX is to combine TEE, cryptography and other security technology solutions with blockchain to effectively solve the data privacy and security issues in traditional areas. We have cooperated with some companies that have data privacy and security needs and help them solve the problems in data protection. It includes unicorn companies in the fields of big-data computing, artificial intelligence, etc. We will build a complete ecological environment based on TEEX, having a search and use platform for trusted computing services.”

Conclusion

It is worth mentioning that TEEX will release the test net in the near future. In this impetuous market environment, TEEX has been focusing on research and development since its inception in early 2018. There is no over-promotion or false prosperity. This announcement of the completion of the first-round financing has laid a solid foundation for its next step in technology development and application.

Let’s looking forward to every step of TEEX in the future!