Fabric Cryptography To Develop Cryptography Processing Unit After Raising $33 Million !!

Fabric Cryptography, a Silicon Valley hardware startup, has reportedly raised $33 million in a Series A funding round.

The round was co-led by Blockchain Capital and 1kx, with participation from Offchain Labs, Polygon and Matter Labs.

The team plans to use the funds to develop a cryptography processing unit, which it calls the Verifiable Processing Unit (VPU).

The company’s press release describes the VPU as a “custom silicon chip that uses an instruction set architecture specific to cryptography.”

They expect the VPU to be able to “drastically improve the speed and cost of running advanced cryptographic workloads” compared to currently available CPUs and GPUs. The new chips are slated to go into production later this year.

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