Founded by MIT and Stanford dropouts and married couple Michael Gao and Tina Ju, Fabric Cryptography has built a custom RISC‑V‑based chip—called a verifiable processing unit (VPU)—optimized to run zero‑knowledge proof algorithms and fully homomorphic encryption. The company’s first‑generation VPU will focus on zero‑knowledge proofs to address immediate demand in the blockchain space while targeting broader enterprise adoption over time. Fabric argues existing hardware is too slow for pervasive cryptography, and its chips aim to make advanced cryptographic techniques practical and ubiquitous. The startup is about to tape out its first chips and says it has received “tens of millions of dollars in preorders.” Fabric plans to use new funding to develop the next generation of chips and to scale its software and cryptography teams. Long‑term goals include placing chips in enterprise data centers and potentially selling into hyperscale clouds.

Total raised

$33M

Funding rounds

1

Latest round

Series A

Latest activity

Aug 2024