Silicon Valley-based Fabric Cryptography has secured a $33 million Series A funding round, co-led by Blockchain Capital and 1kx, to develop a groundbreaking new computing chip focused on data privacy. This investment follows a previous $6 million seed round led by Metaplanet, bringing Fabric’s total funding to $39 million.
The startup, founded by MIT and Stanford graduates Michael Gao and Tina Ju, along with hardware industry veterans, aims to revolutionize data privacy with its Verifiable Processing Unit (VPU). This specialized chip is designed to accelerate cryptographic computations, enabling faster and more efficient handling of sensitive data.
Fabric’s VPU is the first custom silicon chip built specifically for cryptography. It can break down complex cryptographic algorithms into their fundamental mathematical components, allowing for native acceleration and optimization. This approach is expected to significantly outperform traditional CPUs, GPUs, and existing cryptography accelerators in terms of speed and cost-efficiency.
The newly acquired funds will be utilized to expand Fabric’s team, enhance software and cryptographic capabilities, and strengthen its cloud infrastructure. The company envisions a future where advanced cryptographic algorithms not only protect data but also establish trust and transparency.
With the increasing importance of data privacy in today’s digital landscape, Fabric’s innovative technology has the potential to reshape industries reliant on secure data handling. By addressing the limitations of current computing hardware, Fabric aims to empower organizations to safeguard sensitive information while unlocking new possibilities for data utilization.
