August 19, 2024
Fabric Cryptography, a Silicon Valley hardware startup, has secured $33 million in Series A funding, co-led by Blockchain Capital and 1kx, to develop new data privacy-focused computing chips. Other investors include Offchain Labs, Polygon, and Matter Labs. This follows a $6 million seed round led by Metaplanet with Inflection and Liquid2 Ventures.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Fabric Cryptography | $33M | August 19, 2024 | Series A | Blockchain Capital, 1kx | Security |
The startup is creating a Verifiable Processing Unit (VPU), a silicon chip with a cryptography-specific instruction set architecture. This allows any cryptographic algorithm to be broken down into its mathematical components, which the chip can natively accelerate and support.
The new chip is set to enter production later this year and aims to enhance the speed and reduce the costs of cryptographic workloads compared to central processing units (CPUs) and graphical processing units (GPUs).
About Fabric Cryptography
Fabric Cryptography is a Silicon Valley startup specializing in advanced cryptographic hardware. The company is developing the Verifiable Processing Unit (VPU), the world's first massively parallel processor designed specifically for cryptography. This innovative chip aims to enhance the performance and flexibility of cryptographic workloads, such as zero-knowledge proofs and fully homomorphic encryption. By integrating a cryptography-native instruction set, the VPU accelerates complex mathematical operations, making it a powerful tool for secure and private computation. Fabric Cryptography's mission is to create a more trustworthy digital world by providing cutting-edge technology that ensures data privacy and security.
Website: https://www.fabriccryptography.com/
About Investor
This round was co-led by Blockchain Capital and 1kx. Other investors include Offchain Labs, Polygon, and Matter Labs
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments