Nillion acts like a blind computer. You can use and store your data on the network without actually revealing it. Nillion encrypts the data in a way that allows other services to work on it, but crucially, these services cannot actually read the sensitive information. This is a completely novel approach where data doesn't need to be decrypted for services to utilize it.

Nillion proposes a solution called blind computation to address several data privacy challenges outlined by Vitalik Buterin in his earlier Crypto + AI applications paper.

The round was led by Distributed Global. Other investors include AU21, Big Brain Holdings, Chapter One, GSR, HashKey, OP Crypto and SALT Fund. There were more than 150 investors who participated in the raise, in a “conscious decision” to prevent concentrated ownership, Nillion CEO Alex Page said in a statement.

Coinlist wants Nillion to launch their public sale on their platform, but they are trying to find even more interesting partner for the launch. Launching through Echo, a platform founded by Cobie, was also mentioned.

More detailed info about the Nillion can be found in this article.