August 19, 2024: Silicon Valley hardware startup Fabric Cryptography announced a $33 million Series A round to develop computer chips, software and cryptographic algorithms.
The round was led by Blockchain Capital and 1kx, with the participation of others in the sector, such as Offchain Labs, Polygon and Matter Labs. It is following a $6 million seed round led by Metaplanet with participation from Inflection and Liquid2 Ventures among others. The total amount raised comes to $39m.
Founded by MIT and Stanford dropouts Michael Gao and Tina Ju, along with hardware activists such as Sagar Reddy, the team aims to use the latest technology available in AI hardware to build a new field of automation. cryptography, which they call the Verifiable Processing Unit (VPU). It will do for cryptography what Nvidia’s GPUs and many other mainstream chips are doing for AI.
Fabric Cryptography founder and CEO Michael Gao said, «There’s a whole world of advanced cryptographic technology that goes on to protect our data, and it can begin to guarantee trust if we can manage it properly. Billions of dollars have been poured into better AI teams of all kinds, but researchers and cryptography industry projects have had to settle for CPUs or GPUs, which are not designed to do deep math using advanced cryptography.”
The VPU is the first silicon device to use this architecture with cryptography. This means that any cryptographic algorithm can be broken down into its own mathematical building blocks that are naturally accelerated and supported by the chip. To begin production later this year, the VPU is poised to dramatically improve the speed and cost of running advanced cryptographic operations, compared to CPUs, GPUs, and standard cryptography accelerators.
Gao added: «Supporting the most ambitious ideas of cryptographers is very important to the work of Cloth, because of the power these ideas can have wherever we interact with the digital world. Our goal is to increase the speed and accessibility of next-generation cryptography through We’ll know we’ve succeeded when trust and privacy are the foundation of every computer connection.»
Fabric has found the first market for advanced cryptography in the blockchain space, where ZKPs are an important solution for developing advanced tools. Using this, Nsalu has already received millions of dollars in orders for their VPUs. Fabric is also building a software program that makes this new technology available to developers, and several other algorithms that can keep your data private when using AI models in the cloud.
«What sets VPU apart is its unique combination of structure, flexibility, and functionality,» said Dr Wei Dai, a graphic designer and research partner at 1kx. «The VPU can be configured to run almost any cryptography using its advanced instructions. Unlike the smaller, more popular cryptography chips, the VPU is future-proof – it can adapt to new cryptography algorithms as they are designed and manufactured.»
This Series A will fund the development of the next generation of Fabric’s VPU chips and leverage the Fabric’s software and cryptography teams to develop additional applications and cloud tools to support market growth.
«We couldn’t be more excited to partner with Fabric on their mission to accelerate all cryptographic services and the world’s first VPU to help bring a world where privacy and security are non-negotiable for all digital systems,» said Yuan Han Li. Invest in Blockchain Capital.
In the future, Fabric Cryptography aims to build on its entire hardware platform to bring these flexible privacy and security guarantees to AI, finance, medtech, insurance, and more. They believe that creating a versatile device that can fit any encryption method is essential to achieving this goal.
#Cloth #Cryptography #Raises #33M #Cryptography #Chip #HighPerformance #Computing #News #Analysis #internalHPC