Fabric Cryptography raises $33m to unleash advanced cryptography with a new kind of chip
Summary
With tens of millions of pre-orders, Fabric closes-in on the holy-grail breakthrough of cryptography.SAN FRANCISCO, Calif., August 20, 2024-- As data science and machine learning have become common, users and regulators alike have demanded greater privacy guarantees. To take on all of these challenges, Silicon Valley hardware startup Fabric Cryptography is today announcing its $33 million Series A funding round to build computing chips, software and cryptographic algorithms. But, as Fabric Cryptographys Co-Founder and CEO Michael Gao points out, There exists a whole world of advanced cryptographic algorithms that go beyond protecting our data, and can actually begin to guarantee trust, if we can run them efficiently. With a team of 60+ AI hardware and software engineers and cryptographers from companies such as Nvidia, Apple, Google, Amazon, and Galois, Fabrics mission is to develop the Verifiable Processing Unit (VPU). Founded in 2018 and supported by a team of leading engineers, investors, and entrepreneurs, 1kx takes a collaborative, hands-on approach to help the best and brightest minds in web3 grow and scale their platforms and build lasting community-driven networks.