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About Fabric Cryptography
Fabric Cryptography builds specialized hardware for next-generation cryptography, centered on its Verifiable Processing Unit (VPU). The VPU is designed as a general-purpose processor for cryptographic workloads, aiming to combine the programmability of a GPU with performance approaching that of application-specific integrated circuits (ASICs).
Its core value proposition lies in addressing the trade-off between flexibility and speed in cryptographic computing. Traditional CPUs and GPUs are too slow for advanced algorithms like zero-knowledge proofs (ZKPs) and fully homomorphic encryption (FHE), while ASICs become obsolete quickly as algorithms evolve. The VPU attempts to bridge this gap by providing hardware that can adapt to new cryptographic primitives without sacrificing performance.
Market pain points include the high computational cost and latency of running ZKPs and FHE in production environments, which limits their adoption beyond niche use cases. Fabric's hardware aims to make these technologies practical for broader enterprise and blockchain applications.
Regarding recent developments (2026-03-01 to 2026-09-01), no reliable public information was found. The company's website and Twitter did not disclose specific milestones or product updates within this period. As a result, this section cannot be accurately summarized.
Potential concerns include the inherent difficulty of building a truly general-purpose cryptographic processor, as well as competition from more established hardware vendors entering the space. However, no specific negative events were identified in the available sources.
Fabric Cryptography, a hardware startup for next-gen cryptography, has made significant strides in the past six months. In August 2024, it secured $33M in Series A funding led by Blockchain Capital, reaching a $150M valuation, with participation from Offchain Labs and Polygon. The company also announced a strategic partnership with Polygon Labs, which invested $5M in VPU-based servers to accelerate ZK proof generation for the AggLayer. Fabric's VPU (Verifiable Processing Unit), a custom chip for cryptographic workloads, is now in advanced development, with tape-out imminent. The roadmap focuses on delivering end-to-end acceleration for Plonky2 and Plonky3 within 6-12 months, expanding to GKR, halo2, and other proof systems. Fabric also plans to scale its cloud offering, enabling developers to leverage VPU power without dedicated hardware. The team has grown to over 60 employees, with tens of millions in pre-orders secured.
Fabric Cryptography's co-founders and key executives include:
Michael Gao (Founder & CEO): Previously co-founded Katena Computing Technologies, Luminous Computing, and AlphaSheets; early Bitcoin adopter.
Tina Ju (Co-Founder & CSO): Co-founder and Chief Strategy Officer.
Sagar Reddy (Co-Founder & VP, Silicon): Co-founder and VP of Silicon; also CTO at DXCorr Design.
Dave Garrett (Co-Founder): Co-founder.
Yuan Han Li (Board Director): Board director.
Other key executives: Gilbert Hendry (VP, Software), Yuri Bukhan (VP, Growth), Fred Rush, Sean Hackett (Director, Strategy), Wei Dai, Ray Clancy (VP, Operations), Peter Vigil (Director, Design Verification).