Applied Ventures completed the acquisition of a minority stake in Cornami.

Applied Ventures, a venture capital fund, completed the acquisition of a minority stake in Cornami, a high-performance computing company. Financial terms were not disclosed. “The availability of practical FHE introduces a sea change to the cloud computing marketplace and the entire information processing industry. Today, it is impossible to guarantee hack-proof firewalls, secure operating systems, processors without embedded trojans, or internal risk from employees in computing environments. Privacy and data security become achievable goals with FHE, allowing for a wide range of services to become accessible while maintaining full confidentiality of the data, the application, and service results," Dr. Walden Rhines, Cornami CEO.