TechFlow news — On August 19, according to CoinDesk, crypto hardware startup Fabric Cryptography has announced the completion of a $33 million Series A funding round. The round was co-led by Blockchain Capital and 1kx, with participation from Offchain Labs, Polygon, and Matter Labs. Previously, Fabric raised $6 million in a seed round led by Metaplanet.
Fabric is developing a new type of chip called a "Verifiable Processing Unit" (VPU), specifically designed to handle cryptographic tasks. According to the company's statement, the VPU is the first custom silicon chip using a cryptography-specific instruction set architecture, capable of accelerating and supporting the mathematical building blocks of any cryptographic algorithm. Compared to traditional CPUs, GPUs, and fixed-function cryptographic devices, the VPU will significantly increase speed and reduce costs for cryptographic workloads.
Fabric said the new chips are expected to begin production later this year. Designed to meet the growing computational demands of artificial intelligence and blockchain applications, they have the potential to bring transformative change to the field of cryptography.
