Fabric, a cryptography-focused startup, has successfully raised $33 million in a Series A funding round to develop a new data privacy chip. The round was led by prominent investors, underscoring the growing importance of privacy-focused technologies in the digital age.
Fabric’s innovative chip is designed to enhance data security by enabling encryption at the hardware level, providing an additional layer of protection for sensitive information. This technology is particularly relevant as data breaches and privacy concerns continue to rise across industries.
The funding will be used to accelerate the development and commercialization of Fabric’s chip, which promises to revolutionize how data privacy is managed in various sectors, including finance, healthcare, and cloud computing.
This latest investment highlights the increasing demand for advanced cryptographic solutions and positions Fabric as a key player in the evolving landscape of data security technology. The company’s approach to integrating privacy at the hardware level is seen as a critical advancement in protecting personal and corporate data from cyber threats.
