ChainCatcher news, fully homomorphic encryption chip provider Niobium announced the completion of a $5.5 million seed round financing, led by Fusion Fund, with participation from Morgan Creek Capital, Rev1 Ventures, Ohio Innovation Fund, and Hale Capital.It is reported that Niobium is building fully homomorphic encryption (FHE) accelerator chips and commercializing them. The new funds will be used to explore the commercial applications of FHE in industries such as healthcare, finance, and blockchain, and they also plan to showcase the solution and launch pilot projects in the fourth quarter of this year.

ChainCatcher news, according to Fortune magazine, the crypto chip company Fabric Cryptography announced the completion of a $6 million Pre-Seed funding round, led by Metaplanet, with participation from Nil Foundation, Inflection, Novawulf, and Era. The company's co-founder and CEO Michael Gao declined to provide valuation information for this funding round, only revealing that the chips they are designing have already received an order worth $50 million and signed a letter of intent for a deal worth approximately $100 million with a potential buyer.It is reported that Fabric Cryptography is a startup focused on developing hardware for advanced cryptographic algorithms, particularly dedicated computer chips for zero-knowledge proof technology. Last week, Fabric Cryptography also reached a collaboration with ZK technology developer Nil Foundation to launch a decentralized marketplace for cryptographic and outsourced proof generation.