Fhenix
Fhenix is a Tel Aviv-based blockchain R&D company (founded 2023) building the CoFHE FHE Coprocessor, an off-chain homomorphic encryption layer that lets EVM-compatible chains run confidential smart contracts via a single Solidity import. The company serves Web3 developers, DeFi protocols, and enterprises needing encrypted onchain computation, and is currently pre-revenue in testnet phase.
- Company typePrivate
- Founded2023
- HeadquartersTel Aviv, Israel
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Fhenix does
Fhenix is a Tel Aviv-based blockchain research and development company founded in 2023 that builds Fully Homomorphic Encryption (FHE) infrastructure for EVM-compatible blockchains. Its core product is the CoFHE FHE Coprocessor, an off-chain encrypted-computation layer that any EVM-compatible chain (Ethereum, Arbitrum, Base, Optimism, Avalanche) can integrate via a single Solidity import of the FHE.sol library. The technical stack combines the fhEVM-based FHE smart-contract execution environment, the CoFHE off-chain coprocessor with fheOS processing engine, and a Threshold Decryption Network secured via multi-party computation. The architecture relies on Zama's fhEVM and TFHE-rs primitives, EigenLayer AVS for cryptoeconomic verification of off-chain computation, and Arbitrum Nitro's WASM fraud-proof system for chain integration. Notable cryptographic IP includes the DBFV (Decomposed BFV) scheme and a Threshold FHE Decryption protocol (ACM CCS 2025) that benchmarks ~20,000x higher throughput and ~37x lower latency than prior noise-flooding-based approaches.
Fhenix monetizes through a developer-first, freemium distribution model: the SDK, Solidity library, and demo applications are free during the testnet phase (live on Ethereum Sepolia, Arbitrum Sepolia, and Base testnets), with implied future mainnet monetization via usage-based fees on coprocessor calls and threshold decryption services. The company is pre-revenue, having raised $22 million in disclosed funding across a $7M seed round (September 2023, led by Multicoin Capital and Collider Ventures), a $15M Series A (June 2024, led by Hack VC), and two undisclosed strategic investments from Tandem by Offchain Labs (Q1 2025) and BIPROGY/Translink Capital (October 2025). Its customer base consists of ecosystem builders and demo partners — including Redact (fhERC-20 encrypted tokens), Felend (lending), Silhouette Exchange, Coffhee, Monaco Research, and Optalysys (FHE hardware acceleration) — none of which are disclosed paying customers. Application-layer products include Fhenix Pay (mobile private payments) and a suite of demos covering sealed-bid auctions, shielded stablecoins, Uniswap v4 MEV-protection hooks, and encrypted identity use cases via zkPass and Fluton partnerships.
Fhenix firmographics
Firmographics- Name
- Fhenix
- Legal name
- Fhenix
- Website
- https://fhenix.io
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Fhenix is a Tel Aviv-based blockchain R&D company (founded 2023) building the CoFHE FHE Coprocessor, an off-chain homomorphic encryption layer that lets EVM-compatible chains run confidential smart contracts via a single Solidity import. The company serves Web3 developers, DeFi protocols, and enterprises needing encrypted onchain computation, and is currently pre-revenue in testnet phase.
- Ownership category
- akta.pro rank
Fhenix industry classification
Industry- Product category
- Blockchain Privacy Infrastructure
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Protocol Security, Monitoring & Risk Tooling (audits, formal verification, analytics) (FSAPAAAL)
Keywords
Where Fhenix is headquartered
LocationHeadquarters
- HQ city
- Tel Aviv
- HQ country
- Israel
- HQ region
- Middle East
Offices1 record
Markets served
Fhenix business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- Pre-revenue / testnet phase: Fhenix is currently in testnet phase (Helium testnet launched mid-2024; CoFHE live on Ethereum Sepolia, Arbitrum Sepolia and Base testnet). No public pricing or monetization model has been disclosed; revenue generation appears not yet active at scale.
- Future: CoFHE usage-based fees (implied): As CoFHE moves toward mainnet and production deployment across EVM chains, the architecture (off-chain FHE compute paid in gas + threshold decryption services) implies future usage-based / transaction-fee monetization for the coprocessor service.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Testnet free tier — CoFHE live on Ethereum Sepolia, Arbitrum Sepolia and Base testnets with free developer access |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels8 records
Fhenix product offering
Product offeringCore offering
Fhenix sells the CoFHE FHE Coprocessor, an off-chain Fully Homomorphic Encryption execution layer that lets any EVM-compatible smart contract perform confidential computation via a single Solidity import. The stack includes the FHE Solidity library (FHE.sol), the cofhe.js TypeScript SDK, the Threshold Decryption Network, and the fhERC-20 encrypted token standard, all live on Ethereum Sepolia, Arbitrum Sepolia, and Base testnets.
Product overview
Fhenix is a blockchain research and development company that has evolved from operating a dedicated FHE-powered Layer 2 blockchain (the original FHE Rollups / Helium testnet architecture) into a confidential DeFi infrastructure company built around its core product, the CoFHE FHE Coprocessor. CoFHE acts as an off-chain encrypted-computation layer that any EVM-compatible chain (Ethereum, Arbitrum, Base, Optimism, Avalanche) can call into via a single Solidity import of the FHE.sol / cofhe-contracts library. Supporting modules include the FHE Solidity Library (encrypted integer types and homomorphic ops), the cofhe.js TypeScript SDK (client-side encryption, permits, unsealing), the Threshold Decryption Network (multi-party decryption), the fhERC-20 token standard for encrypted balances/transfers, and Uniswap v4 FHE Hooks. Application-layer products include Redact (fhERC-20 minting/management), Fhenix Pay (mobile private payments), Shielded/Dual-Mode Stablecoin, Sealed-Bid Auctions, Access Delegation, and a suite of demo dApps. Documentation, the NEO AI assistant, and the Fhenix-Toolkit Vibe-code AI tooling sit on top of the developer stack.
Differentiator
Problem solved
Functional benefit
Brands
- CoFHE: Fhenix's FHE Coprocessor, an off-chain encrypted computation layer that brings confidential smart contracts to any EVM-compatible blockchain via a single Solidity import. Live on Ethereum Sepolia, Arbitrum Sepolia, and Base testnet.
- Redact
- Fhenix Pay
- Helium
Products and services
- CoFHE (FHE Coprocessor) Off-chain Fully Homomorphic Encryption (FHE) coprocessor that lets any EVM-compatible smart contract perform confidential computation with a single Solidity import. Components include the Task Manager, Aggregator, FHEOS Server, Ciphertext Registry, and the Threshold Decryption Network. Live on Ethereum, Arbitrum, and Base testnets.
- FHE Solidity Library (FHE.sol / cofhe-contracts) Solidity library exposing encrypted integer types (euint8/16/32/64/128/256, ebool, eaddress) and homomorphic operations (FHE.add, FHE.allow, FHE.allowThis, FHE.allowSender, FHE.asEuint32, FHE.getDecryptResultSafe) that integrate with the CoFHE coprocessor.
- cofhe.js (Client-Side TypeScript SDK) TypeScript/JavaScript SDK that enables frontend apps to encrypt inputs, manage access control via permits, and unseal encrypted outputs; includes cofhejs.encrypt() for Encryptable types such as Encryptable.uint32(42).
- Threshold Decryption Network Multi-party decryption service that securely handles decryption requests for authorized reveals; achieves ~20,000x higher throughput and ~37x lower latency than prior threshold FHE designs (ACM CCS 2025). Secures CoFHE's confidential compute pipeline.
- Helium Testnet FHE-enabled public testnet launched in mid-2024 for developers to deploy confidential smart contracts using Fully Homomorphic Encryption.
- Redact (fhERC-20 Confidential Tokens) App that lets users mint and manage fhERC-20 tokens — ERC-20s upgraded with encrypted balances and transfers — enabling confidential transactions. Built on CoFHE and Fhenix Pay.
- Fhenix Pay Mobile payment app for private everyday payments using QR codes, NFC tap-to-pay, and Bluetooth P2P transfers; uses fhERC-20 confidential tokens powered by CoFHE. Available on iOS TestFlight and Google Play.
- Shielded Stablecoin / Dual Mode Stablecoin Confidential Token Wizard that deploys privacy-preserving ERC20 tokens powered by FHE; supports dual-mode (private and public transaction) stablecoins with encrypted balances.
- Sealed-Bid Auction Demo application for submitting sealed onchain bids with encrypted bid amounts using fhERC-20 tokens and CoFHE; preserves privacy and prevents bid exposure on Arbitrum Sepolia.
- NEO - Fhenix AI Assistant AI assistant in the Fhenix documentation that helps developers build privacy-preserving smart contracts with FHE using the "Build with AI" tooling, also powering Vibe-code confidential smart contract generation via the Fhenix Toolkit.
Quantifiable outcome
- Up to 50x faster FHE decryption vs competitor benchmarks
- +3 more outcomes
Companies that use Fhenix
Customer profileNamed customers6 records
Ideal customer profiles3 records
Fhenix technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration15 records
AI capability8 records
Feature8 records
Fhenix partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and mid.
- Tandem by Offchain Labs (Arbitrum)coreStrategic investment and co-development partnership with Tandem, the venture arm of Offchain Labs (creators of Arbitrum). Tandem invested in Fhenix to integrate FHE into Arbitrum's L2 ecosystem; the collaboration involves R&D with cryptography experts Ed Felten, Steven Goldfeder, and Victor Shoup (co-designer of HElib) to make FHE ubiquitous and accessible. CoFHE is now live on Arbitrum Sepolia.
- CelestiacoreCelestia serves as the high-throughput data availability layer for the Fhenix network. The modular approach separates FHE execution from consensus, leveraging Celestia's data availability sampling (DAS) to lower barriers for building confidentiality-enabled applications.
- EigenLayercoreFhenix and EigenLayer announced joint development of FHE coprocessors — Fhenix and EigenLayer are dedicating significant resources to bringing wide-scale confidential compute to onchain. EigenLayer AVS is used to cryptoeconomically secure CoFHE's off-chain computation correctness and the Threshold Decryption Network.
- OptalysysmidFHE hardware-acceleration partner listed on Fhenix's ecosystem page; provides optimized compute infrastructure for Fhenix's encrypted workloads (referenced in FHE-vs-TEE research posts).
- ZamacoreZama built the fhEVM — the set of EVM extensions Fhenix uses to integrate FHE into Solidity. Zama's open-source TFHE-rs library powers FHE-based smart contracts in Fhenix's stack.
- PrivaseamidPartnership announced to leverage both Privasea's FHEML-focused AI + DePIN computing expertise and Fhenix's FHE capabilities to advance development of secure AI applications using FHE, including continued development of FHE libraries, interoperability between the two projects, and hardware acceleration.
- zkPassmidPartnership with zkPass (an oracle protocol providing secure, verifiable sharing of private internet data) to combine ZK proofing for identity verification with Fhenix's FHE confidentiality — enabling private and secure onchain identity and reputation verification.
- Monaco ResearchmidResearch collaboration announced June 14, 2026 to investigate how FHE can bring meaningful confidentiality to onchain trading infrastructure, including dark pools, encrypted request-for-quote (RFQ) systems, and private execution in decentralized markets.
- FlutonmidStrategic partnership to combine Fhenix's confidentiality (FHE) with Fluton's anonymity layer to deliver programmable privacy for Ethereum — covering transaction amounts, token types, trading strategies (confidentiality) and wallet identity linkability (anonymity).
- Ethereum FoundationcoreListed as a 'Strategic partner' on Fhenix's ecosystem page; CoFHE is currently deployed on Ethereum Sepolia mainnet testnet infrastructure, positioning Fhenix's confidential compute layer natively on Ethereum.
- RedactmidEcosystem project and live demo partner — Redact lets users mint and manage fhERC-20 tokens (ERC-20s with encrypted balances and transfers) on CoFHE. Testnet traction during H1 2025: 1.5K unique users and 11K transactions on Ethereum Sepolia.
Scale indicators11 records
Recent moves8 records
Expansion highlights7 records
Fhenix competitors and assessment
Company assessmentDirect peers
- Zama: Zama builds the fhEVM and TFHE-rs open-source FHE libraries that Fhenix directly integrates into CoFHE; both target Solidity developers who want to run computation on encrypted data. Zama is both a technology partner and the most direct comparable (FHE tooling for EVM chains).
- Inco Network: Inco Network is an EVM-compatible confidential computing chain using FHE that enables encrypted smart-contract state on Ethereum and other L2s. It competes head-to-head with Fhenix for confidential DeFi workloads and developer mind-share in the FHE-on-EVM category.
- Aztec Network: Aztec is an EVM-compatible privacy L2 that uses zero-knowledge proofs (Noir) to enable encrypted transactions and private smart contracts on Ethereum. It targets the same confidential-DeFi developer segment as Fhenix but with a ZK (rather than FHE) approach.
- Aleo: Aleo is a privacy-first Layer-1 blockchain that uses zero-knowledge proofs to enable private applications and encrypted execution. Although its tech stack (ZK vs FHE) differs, it competes for the same institutional and DeFi use cases where on-chain confidentiality is required.
- Secret Network: Secret Network is a privacy-preserving smart-contract L1 that uses trusted execution environments (TEEs) to enable "encrypted" compute on Cosmos. It is a direct alternative for developers choosing how to ship confidential DeFi, particularly given Fhenix's explicit "no TEEs" positioning.
- Oasis Network: Oasis is a Layer-1 with confidential compute via TEEs (Sapphire runtime) targeting private smart contracts and DeFi. Like Fhenix, it pitches itself as confidential compute infrastructure for Web3, but uses a TEE-based rather than pure-FHE approach.
Emerging players
- RISC Zero: RISC Zero provides a ZK coprocessor model (proof generation off-chain, verification on-chain) for EVM chains. It overlaps with Fhenix's CoFHE coprocessor architecture and competing developer mind-share in the "modular confidentiality" category, though via ZK rather than FHE.
- Nillion: Nillion is a decentralized private compute network that performs computation on encrypted data without exposing inputs, targeting AI and Web3 use cases. It is thematically comparable to Fhenix's confidential compute ambitions but uses a different cryptographic architecture (NMC).
- Lit Protocol: Lit Protocol provides decentralized key management and private compute for web3 applications, including conditional decryption and access control primitives. It overlaps with Fhenix in serving developers who need encrypted data with conditional reveal, though via MPC/TEE rather than FHE.
- Sunscreen: Sunscreen is an FHE compiler/tooling startup that converts plaintext programs into FHE equivalents. While it focuses on developer tooling rather than a coprocessor product, it overlaps with Zama and Fhenix in the FHE-primitive tooling layer that underpins encrypted compute.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Fhenix social profiles
Digital presenceFhenix financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fhenix leadership team
Management profileNumber of profiles
Profiles3 records
Fhenix funding detail
Funding detailFunding overview
Funding rounds4 records
Investors27 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fhenix M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fhenix
What does Fhenix do?
Fhenix sells the CoFHE FHE Coprocessor, an off-chain Fully Homomorphic Encryption execution layer that lets any EVM-compatible smart contract perform confidential computation via a single Solidity import. The stack includes the FHE Solidity library (FHE.sol), the cofhe.js TypeScript SDK, the Threshold Decryption Network, and the fhERC-20 encrypted token standard, all live on Ethereum Sepolia, Arbitrum Sepolia, and Base testnets.
Is Fhenix a public or private company?
Fhenix is a private company. It is classified as venture growth investor backed and is currently operating.
When was Fhenix founded?
Fhenix was founded in 2023. It employs 11 to 50 people.
Where is Fhenix based?
Fhenix is headquartered in Tel Aviv, Israel, in the Middle East region.
How does Fhenix make money?
Two revenue lines are on record. Pre-revenue / testnet phase is the primary driver. The others are future: CoFHE usage-based fees (implied).
Who are Fhenix's main competitors?
Direct peers on record are Zama, Inco Network, Aztec Network, Aleo, Secret Network and Oasis Network. Emerging players are RISC Zero, Nillion, Lit Protocol and Sunscreen.
Does Fhenix have an API?
Yes. CoFHE exposes an SDK and Solidity library that lets developers add encrypted computation to any EVM-compatible smart contract. The cofhe.js TypeScript SDK is a client-side library that enables frontend apps to encrypt inputs, manage access control via permits, and unseal encrypted outputs. The FHE Solidity library (FHE.sol) is consumed via a single Solidity import (e.g., `import "@fhenixprotocol/cofhe-contracts/FHE.sol";`) and emits off-chain FHE operation requests to the CoFHE pipeline (Task Manager, Aggregator, FHEOS Server, Threshold Network, Ciphertext Registry). Developers can also integrate fhERC-20 encrypted token templates. Integration examples are provided for AMMs (Uniswap v4 hooks), lending markets, voting, and sealed-bid auctions. Documentation and developer guides are hosted at cofhe-docs.fhenix.zone. Developer documentation is at cofhe-docs.fhenix.zone.
What industry is Fhenix in?
Fhenix's product category is Blockchain Privacy Infrastructure. Its primary akta.pro industry code is FSAPAAAL, Protocol Security, Monitoring & Risk Tooling (audits, formal verification, analytics). Its SIC code is 6199.