Fabric Cryptography, founded by Michael Gao and Tina Ju, is a hardware startup aimed at making modern cryptographic techniques accessible and widespread. Their goal is to address the growing tension between trust and privacy in a world where vast amounts of consumer data are collected by companies but cannot be adequately protected. To achieve this, Fabric has developed a custom RISC-V-based chip known as a “verifiable processing unit” (VPU) optimized for running algorithms like zero-knowledge proofs and fully homomorphic encryption.
Fabric Cryptography has garnered significant support from venture capitalists, with Blockchain Capital and 1kx leading a $33 million Series A funding round. Other notable investors include Offchain Labs, Polygon, and Matter Labs. The interest from crypto investors underscores the importance of cryptography in today’s digital landscape and the potential impact of Fabric’s solutions. The company previously raised $6 million in seed funding, showcasing confidence in its vision and technology.
While Fabric has its eye on enterprise applications, the immediate need for its solutions is prevalent in the blockchain space. The company’s first-generation chip prioritizes zero-knowledge proofs, reflecting the demand for enhanced data security in decentralized systems. Gao emphasizes the increasing compute demand for cryptographic operations and envisions a future where privacy and verifiability are essential components of digital systems across industries.
Enterprises are wary of handling user data due to its liability, prompting the adoption of encrypted data solutions like fully homomorphic encryption and zero-knowledge proofs. Fabric’s technology allows for data to remain encrypted during use, minimizing exposure to potential breaches. By enabling secure data exchange without compromising privacy, Fabric empowers organizations to protect sensitive information and enhance data security measures.
Michael Gao brings a wealth of experience in ambitious hardware startups, having previously founded companies like Luminous Computing and Katana (now Fabric Systems). Gao’s entrepreneurial background and technical expertise position Fabric Cryptography for success in the competitive tech industry. The company is on track to tape out its first chips, with plans to advance chip development and expand its software and cryptography teams using the latest funding round. Fabric aims to integrate its chips into enterprise data centers and potentially collaborate with hyperscale cloud providers in the future.
Fabric Cryptography’s innovative approach to modern cryptographic solutions holds immense potential for transforming data security and privacy standards. By leveraging custom hardware designs and cutting-edge algorithms, the company is paving the way for a future where verifiable processing units are integral to safeguarding digital information. With continued support from investors and a clear vision for growth, Fabric Cryptography is poised to make a lasting impact on the cybersecurity landscape and redefine the boundaries of modern cryptography.