Fabric Cryptography
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About Fabric Cryptography
Industries
Hardware
Fintech
Cybersecurity
Company Size
11-50
Company Stage
Series A
Total Funding
$39M
Headquarters
San Francisco, California
Founded
2021
Overview
Simplify's Take
What believers are saying
- Increased demand for ZKPs boosts Fabric's VPU market potential.
- Partnership with Polygon Labs enhances Fabric's industry credibility.
- $33M Series A funding supports VPU development and team expansion.
What critics are saying
- Competition from established semiconductor companies threatens Fabric's market share.
- Global semiconductor shortages may delay VPU mass production.
- Rapid cryptographic advancements could render Fabric's VPU obsolete.
What makes Fabric Cryptography unique
- Fabric's VPU is designed for zero-knowledge proofs and homomorphic encryption.
- The company collaborates with Polygon Labs for custom ZK chips.
- Founded by MIT and Stanford dropouts, Fabric focuses on cryptographic hardware.
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Funding
Total Funding
$39M
Above
Industry Average
Funded Over
2 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Paid Vacation
Paid Holidays
Remote Work Options
Company Equity
Company News
In August 2024, Fabric announced a series A funding of $33 million that also saw participation from Polygon Labs.
Polygon Labs is collaborating with crypto hardware manufacturer Fabric Cryptography to bring its Verifiable Processing Units (VPUs) to the AggLayer ecosystem.The AggLayer is an interoperability layer currently under development by Polygon Labs and other core contributors, designed to facilitate unified liquidity and security across a network of chains.
According to an August 19 announcement, Fabric Cryptography is working on a new cryptography-focused chip called the Verifiable Processing Unit (VPU).
Fabric Cryptography, a startup focused on hardware, has raised $33 million in a Series A fundraising round co-led by Blockchain Capital and 1kx.
Fabric Cryptography Inc., a 2023 startup, raised $33 million in a Series A round to develop next-gen security chips. Founded by MIT and Stanford dropouts Michael Gao and Tina Ju, the company will use the funds to advance its Verifiable Processing Unit (VPU) and scale its software and cryptography teams. The VPU, designed for cryptographic tasks like zero-knowledge proofs and fully homomorphic encryption, is set for mass production later in 2024. Total funds raised now stand at $39 million.
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About Fabric Cryptography
Industries
Hardware
Fintech
Cybersecurity
Company Size
11-50
Company Stage
Series A
Total Funding
$39M
Headquarters
San Francisco, California
Founded
2021
There are no jobs for Fabric Cryptography right now.
Find jobs on Simplify and start your career today