Fabric Cryptography Raises $33 Million to Advance Crypto Hardware
CryptoNewsTerminal Staff19 Aug, 2024
Fabric Cryptography Raises $33 Million to Advance Crypto Hardware
Cryptocurrency hardware developer Fabric Cryptography has secured $33 million in Series A funding, led by Blockchain Capital and 1kx. Other participants in the round include Offchain Labs, Polygon, and Matter Labs. The funding will fuel Fabric's mission to develop cutting-edge computing chips, software, and cryptographic algorithms. The company also intends to release its custom silicon chip, the VPU, by year's end. This chip boasts an instruction set architecture tailored specifically for cryptography applications. Fabric's VPU is expected to revolutionize the performance and efficiency of cryptocurrency hardware. It aims to provide a dedicated platform for blockchain and cryptography operations, enabling faster transaction processing and enhanced security. The company's comprehensive platform will cater to the growing demands of the cryptocurrency industry, offering specialized hardware solutions that meet the unique requirements of blockchain technology.
