# Fabric Cryptography

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fabric-cryptography

- Industry: Hardware
- Headquarters: Santa Clara, US
- Website: www.fabriccryptography.com
- Total disclosed funding: $47M
- Latest round: Series A (Mar 22, 2024)
- Investors on record: 11

## About

Established in 2022 and based in California, US, Fabric of Truth, Inc. trading under the name Fabric Cryptography operates as a developer of programmable chips hardware for cryptography. In August 2024, Fabric of Truth, Inc. raised USD 33 million in series A funding co-led by investors Blockchain Capital and 1kx, with participation from other investors Offchain Labs, Polygon Labs, and Matter Labs. The firm as of August 2024, is led by its co-founders, Michael Gao (CEO), Tins Ju (CSO), and Sagar Reddy (VP).

Fabric Cryptography focuses on advancing cryptographic technology through its hardware solutions. Fabric's flagship product, the Verifiable Processing Unit (VPU), integrates features from GPUs and ASICs to create a chip optimized for cryptographic tasks. This chip offers speed and flexibility, handling complex cryptographic algorithms like plonky2 and TFHE with efficiency. The VPU’s design includes custom silicon, a RISC-V multi-core processor, and a non-blocking network-on-chip, which collectively enhance performance far beyond traditional CPUs, GPUs, or FPGAs. The firm also offers a compiler and library software that leverages advanced optimization techniques to enhance performance across major algorithms including plonky2, plonky3, GKR, etc.

Fabric Cryptography focuses on advancing cryptographic technology through its hardware solutions. Fabric's flagship product, the Verifiable Processing Unit (VPU), integrates features from GPUs and ASICs to create a chip optimized for cryptographic tasks. This chip offers speed and flexibility, handling complex cryptographic algorithms like plonky2 and TFHE with efficiency. The VPU’s design includes custom silicon, a RISC-V multi-core processor, and a non-blocking network-on-chip, which collectively enhance performance far beyond traditional CPUs, GPUs, or FPGAs.

The company plans to utilize the August 2024 funding to support the development of its computing chips, software, and cryptographic algorithms.

## Funding rounds

- Series A, Mar 22, 2024, $28M — Blockchain Capital, 1kx Ventures, Offchain Labs, Matter Labs, Polygon Labs
- Seed, Jul 25, 2023, $6M — Metaplanet Holdings, Inflection, NovaWulf Digital Management, Nil Foundation
- Seed, Oct 13, 2022, $13M — Metaplanet Holdings, 8090 Industries, Blockchain.com

## Investors

- Metaplanet Holdings (https://capitalatlas.ai/funds/metaplanet-holdings) — Seed
- 8090 Industries (https://capitalatlas.ai/funds/8090-industries) — Seed
- Blockchain.com — Seed
- Inflection — Seed
- NovaWulf Digital Management — Seed
- Nil Foundation — Seed
- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Series A
- 1kx Ventures (https://capitalatlas.ai/funds/1kx-ventures) — Series A
- Offchain Labs — Series A
- Matter Labs — Series A
- Polygon Labs — Series A