Fabric Cryptography, founded by Michael Gao and Tina Ju, is a hardware startup aiming to revolutionize modern cryptographic techniques. The company’s innovative approach to privacy and trust in an age of increasing data collection by companies has attracted significant attention from investors and industry experts alike.
At the core of Fabric Cryptography’s mission is the development of a custom RISC-V-based chip known as a “verifiable processing unit” (VPU). This specialized chip is designed to run algorithms for establishing zero-knowledge proofs and enabling fully homomorphic encryption. The team believes that existing hardware is too slow to make these techniques ubiquitous, hence the need for custom chips like the VPU.
Venture capitalists are showing strong support for Fabric’s vision, with Blockchain Capital and 1kx leading a substantial $33 million Series A funding round. The company’s focus on the blockchain space, with immediate applications for zero-knowledge proofs, has resonated well with crypto investors. Fabric’s potential to accelerate cryptographic operations has garnered significant interest from industry experts looking to incorporate privacy and verifiability into digital systems.
While Fabric has set its sights on serving enterprises, particularly those looking to secure sensitive data, its technology holds promise for a wide range of applications beyond the blockchain space. By offering solutions that enable the exchange of necessary data through zero-knowledge proofs and fully homomorphic encryption, Fabric aims to address concerns around data privacy and regulatory compliance. Enterprises stand to benefit from keeping their data encrypted while in use, mitigating the risks associated with handling user data.
Michael Gao’s background in ambitious hardware startups, including previous ventures in photonic AI and Bitcoin mining chips, has laid the foundation for Fabric Cryptography’s innovative approach. The couple’s experience at Luminous Computing led them to recognize the potential of pervasive cryptography in the enterprise space, prompting them to establish Fabric as a mainstream solution for data security and privacy. The company’s commitment to developing cutting-edge hardware solutions underscores its ambition to revolutionize the way businesses handle encrypted data.
Fabric is on the cusp of taping out its first chips, marking a significant milestone in its journey towards bringing privacy-enhancing technologies to the market. With the support of its recent funding round, the company is poised to develop the next generation of chips and scale its software and cryptography teams. In the long run, Fabric aims to integrate its chips into enterprise data centers and potentially collaborate with hyperscale cloud providers, positioning itself as a key player in the evolving landscape of data security and privacy.
Fabric Cryptography’s innovative hardware solutions have the potential to transform the way businesses approach data privacy and trust in an era of increasing data vulnerability. By leveraging cutting-edge technologies like zero-knowledge proofs and fully homomorphic encryption, the company is set to redefine the standards for secure data exchange and regulatory compliance. With strong investor backing and a clear market focus, Fabric is well-positioned to lead the charge towards a future where privacy and verifiability are non-negotiable components of digital systems.