Fabric Cryptography Raises $33M to Develop Verifiable Processing Unit

Aug 21, 2024, 12:00 PM

Fabric Cryptography, a hardware startup, has raised $33 million in a Series A funding round co-led by Blockchain Capital and 1kx. The company plans to use the funds to develop a new processing unit called the Verifiable Processing Unit (VPU), which is designed to handle advanced cryptographic computations. The VPU aims to accelerate the adoption of advanced and programmable cryptography, including zero-knowledge and fully homomorphic encryption. The funding will support Fabric's efforts to make cryptographic processes faster and more efficient, positioning the company as a leader in cryptographic hardware innovation.