Fabric Cryptography is a hardware startup founded by MIT and Stanford dropouts Michael Gao and Tina Ju, a married couple. Their goal is to make modern cryptographic techniques like zero-knowledge proof and fully homomorphic encryption more widespread. These techniques allow for proving things without revealing specific knowledge and working with encrypted data without decryption, respectively. The co-founders believe this will address the challenges of trust and privacy in an era where companies collect vast amounts of data but struggle to protect it.
To achieve this vision, Fabric has created a custom RISC-V-based chip optimized for running the necessary algorithms for zero-knowledge proofs and fully homomorphic encryption. Known as a “verifiable processing unit” (VPU), this chip is designed to overcome the limitations of existing hardware, which is too slow for widespread implementation of such techniques.
The startup has secured significant backing from venture capital firms, with Blockchain Capital and 1kx leading a $33 million Series A round. Other notable participants include Offchain Labs, Polygon, and Matter Labs, following a $6 million seed round led by Metaplanet. The support from crypto investors reinforces the growing importance of cryptography in the digital landscape.
Fabric’s technology targets enterprises, with a particular focus on the blockchain industry due to its immediate need for solutions like zero-knowledge proofs. Gao emphasizes the increasing computational demands of cryptographic operations and envisions a broader application beyond the crypto space into mainstream enterprises.
Fabric has already received significant preorders and aims to address enterprise concerns about data privacy by enabling encryption and verifiable data processing. Gao’s previous experience with hardware startups, including Luminous Computing and Katana (now Fabric Systems), has influenced Fabric’s approach to accelerating cryptographic operations.
The company is preparing to tape out its first chips and intends to use the funding to develop future chip generations and expand its software and cryptography teams. Fabric aims to deploy its chips in enterprise data centers and potentially collaborate with hyperscale cloud providers in the future.
