[Funding News] Fabric Cryptography Raises $33 Million Series A Funding

Silicon Valley based Fabric Cryptography Raises $33 Million Series A Funding round was co-led by Blockchain Capital and 1kx, with participation from leaders in the sector, such as Offchain Labs, Polygon, and Matter Labs.

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It follows a $6 million seed round led by Metaplanet with participation from Inflection and Liquid2 Ventures amongst others. With this, the total investment raised by the company accounts for $39 million.

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The new funding will go towards developing Fabric Cryptography’s VPU chips for the upcoming generation, as well as scaling its teams in charge of software and cryptography to create more cloud infrastructure and applications in response to the expanding market demand.

“We could not be more thrilled to partner with Fabric on their mission to accelerate all cryptographic operations with the world’s first VPU to help bring about a world where privacy and verifiability are non-negotiable components of all digital systems,” said Yuan Han Li, investor at Blockchain Capital.

“What sets the VPU apart is its unique combination of programmability, flexibility, and performance,” said Dr Wei Dai, cryptographer and research partner at 1kx. “The VPU can be programmed to run virtually any cryptographic workload efficiently using its innovative instruction set. Unlike other fixed-function chips, which are common in cryptography, the VPU is future-proof — it can adapt to new cryptography algorithms as they are developed and productionised.”

Fabric Cryptography’s Co-Founder and CEO Michael Gao said “Supporting cryptographers’ most ambitious ideas is core to the Fabric mission, because of the power these ideas could have anywhere we interact with the digital world. Our mission is to scale the speed and availability of next-gen cryptography through exponential advances across the hardware and software stack. We’ll know we’ve succeeded when trust and privacy are foundational to every digital interaction.”

About Fabric Cryptography

founded by Michael Gao and Tina Ju, Fabric Cryptography break next-gen cryptography algorithms into their common building blocks, achieving the performance of ASICs with the flexibility and programmablity of GPUs. Its on-chip RISC-V multi-core processor enables native witness generation, eliminating the PCIe bottleneck. Fabric Cryptography use a non-blocking network-on-chip and high-speed unified memory architecture. Together with our revolutionary core architecture, we achieve order(s) of magnitude boosts above CPU, GPU or FPGA implementations. Fabric Cryptography combine best practices from decades designing CPUs, GPUs, domain specific accelerators, and hardware security modules.