Cryptographic hardware startup Fabric has completed a $33 million Series A funding round, led jointly by Blockchain Capital and 1kx.

ChainCatcher news, the encryption hardware startup Fabric Cryptography has completed a $33 million Series A funding round, led by Blockchain Capital and 1kx. Offchain Labs, Polygon, and Matter Labs also participated. The project previously raised $6 million in a seed round led by Metaplanet.

The company stated that the new funds will be used to "build computing chips, software, and cryptographic algorithms." At the core of Fabric's roadmap is the development of a new processing unit called the "Verifiable Processing Unit (VPU)," which will be specifically designed for handling cryptographic technologies.