VPU Chip R&D Company Fabric Cryptography Closes $33 Million Series A Funding Round Co-Led by Blockchain Capital and 1kx

Fabric Cryptography, a startup focused on developing “VPU” chips for crypto, has closed a $33 million Series A round of funding co-led by Blockchain Capital and 1kx, with participation from Offchain Labs, Polygon, and Matter Labs, according to CoinDesk.
Fabric was co-founded by MIT and Stanford University dropouts Michael Gao and Tina Ju and hardware veteran Sagar Reddy. The new funding will be used to “build computational chips, software and cryptographic algorithms,” the company said.
At the heart of Fabric's roadmap, according to the project, is a new processing unit, dubbed the Verifiable Processing Unit (VPU), which will specialize in processing cryptography.