Official announcement from Fabric Cryptography or reputable financial news sources

Fabric Cryptography Raises $33M to Develop VPU for Advanced Encryption

Aug 19, 2024, 04:25 PM

Fabric Cryptography, a hardware startup, has successfully 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 known as the Verifiable Processing Unit (VPU), which is designed to handle advanced cryptographic computations. The VPU aims to accelerate the adoption of technologies such as zero-knowledge proofs and fully homomorphic encryption by providing a dedicated hardware solution. Fabric Cryptography's initiative is seen as a significant step towards making advanced cryptography more accessible and efficient.