Fabric Cryptography raises $33m to unleash advanced cryptography with a new kind of chip
MIT and Stanford dropouts team up with AI veterans to create a chip that brings a new kind of mathematical trust to our digital interactions. With tens of millions of pre-orders, Fabric closes-in on the ‘holy-grail’ breakthrough of cryptography.
California, Aug. 20, 2024 (GLOBE NEWSWIRE) — As data science and machine learning have become common, users and regulators alike have demanded greater privacy guarantees. The next generation of cryptography techniques has the potential for a privacy breakthrough, tackling the conflict between privacy and big data. However, just as artificial intelligence has required improvements in computing chips, software and algorithms, next-generation cryptography requires that same coordinated effort to achieve real world adoption.
To take on all of these challenges, Silicon Valley hardware startup .
About Fabric Cryptography
Fabric is a pioneering full-stack company encompassing semiconductor, software, and cloud solutions, founded by MIT and Stanford dropouts with AI supercomputing veterans to revolutionize digital trust and privacy through next-generation cryptography. With a team of 60+ AI hardware and software engineers and cryptographers from companies such as Nvidia, Apple, Google, Amazon, and Galois, Fabric’s mission is to develop the Verifiable Processing Unit (VPU). The VPU is the first general-purpose, fully programmable chip for cutting-edge cryptography such as zero-knowledge proofs (ZKP) and fully homomorphic encryption (FHE). Fabric has raised $39m in funding to date and received tens of millions of dollars in VPU pre-orders for shipments beginning later this year.
About Blockchain Capital
Based in San Francisco and New York, Blockchain Capital was the first venture capital firm to invest exclusively in the blockchain technology sector. Founded in 2013 by Bart and Brad Stephens, Blockchain Capital has funded over 100 founders with the principal mission of helping these entrepreneurs build world-class companies based on blockchain technology. To learn more, please visit https://www.blockchaincapital.com/.
About 1kx
1kx is a leading venture investment firm that partners with forward-thinking founders and protocols to help grow the crypto ecosystem. 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. To learn more, please visit https://1kx.network/.
CONTACT: For further information please contact the Fabric Cryptography press office on [email protected] or Bilal Mahmood on [email protected] and +44 (0) 771 400 7257.
