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Fabric Cryptography
Fabric Cryptography is a San Francisco hardware startup building the Verifiable Processing Unit (VPU) - a fully programmable custom-silicon chip with an instruction set designed specifically for advanced cryptography. Founded in 2021 by Michael Gao, Tina Ju, and Sagar Reddy, Fabric aims to do for cryptography what Nvidia did for AI: dramatically accelerate workloads like zero-knowledge proofs, fully homomorphic encryption, and multi-party computation compared with CPUs, GPUs, and fixed-function accelerators. The company has raised $39M total, including a $33M Series A in August 2024 co-led by Blockchain Capital and 1kx.
Chain Reaction Ltd.
Chain Reaction is an Israeli-American semiconductor company designing custom ASICs for encrypted computation and Bitcoin mining. Its EL3CTRUM line powers next-generation hashing hardware, while its 3PU (Privacy Processor) accelerates Fully Homomorphic Encryption so cloud workloads in finance, healthcare and defense can run on encrypted data.
Alon Webman
Alon Webman is the co-founder and CEO of Chain Reaction, an Israeli semiconductor company building purpose-built chips for encrypted computation, Bitcoin mining, and privacy-preserving AI. Before Chain Reaction, he co-founded Mellanox Technologies in 1999 and spent nearly two decades there, rising to VP-level roles before NVIDIA acquired Mellanox for $7 billion in 2020. A Technion graduate, Webman is now betting his second act on making fully homomorphic encryption practical at scale - a technology that would let clouds compute on data they can never see.