A company in Silicon Valley called Fabric Cryptography was able to raise $33 million in a Series A funding round to help develop its groundbreaking Verifiable Processing Unit (VPU) chip. This chip makes data much more private by using advanced cryptographic processing. Blockchain Capital and 1kx led the funding round together. Offchain Labs, Polygon, and Matter Labs also gave money.
The VPU, Fabric’s most popular offering, is a specialized silicon chip that handles complicated cryptographic methods quickly and well. Traditional processors have trouble with the complex math processes needed for advanced cryptography. The VPU, on the other hand, is intended to break down these methods into simpler parts that the chip can speed up naturally. We think that this plan will not only make cryptographic jobs faster, but it will also make them cheaper to run.
Former students Michael Gao, Tina Ju, and Sagar Reddy started Fabric Cryptography. The team’s goal is to make technology that goes beyond basic data security to make sure that digital exchanges can be trusted. “There is a whole world of advanced cryptographic algorithms that can do more than just protect our data; if we can run them efficiently, they can even start to guarantee trust,” Fabric Cryptography co-founder and CEO Gao said.
We built the VPU with a special set of instructions made just for cryptography. The chip can support new security methods thanks to its very flexible design, which means it will still be useful as the field changes. The Web3 industry has already placed pre-orders worth tens of millions of dollars for the startup’s VPUs. This is because zero-knowledge proofs and other advanced security methods are becoming more important in this field.
Fabric Cryptography is also working on a full software stack to make the VPU technology available to coders, in addition to the hardware. With these tools, developers can program the VPU to handle almost any cryptographic task. This makes it a flexible and future-proof option for fields that need to process data securely.
Fabric wants to get its VPU chips better and grow its software and security teams to meet the needs of a growing market with this new cash. The company wants to bring the benefits of better data protection and trust to areas other than blockchain, like AI, banking, healthcare, and insurance.
