As a seasoned crypto investor with over a decade of experience under my belt, I’ve seen countless projects come and go. However, when I heard about Space and Time’s Series A funding round, I couldn’t help but feel a sense of excitement that’s been missing for a while. With the backing of heavyweights like Cypher Capital, Microsoft’s M12 Ventures, and DCG, this project seems poised to make waves in the industry.
In a successful Series A funding round, the artificial intelligence computing layer known as Space and Time (SxT) secured a total of $20 million.
As stated in an announcement on August 28th, various venture capital firms such as Cypher Capital, Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures, Alumni Ventures, and others took part in the funding round. This recent round brings the total amount raised by Space and Time to $50 million.
According to the recent announcement, the freshly acquired funds will be allocated towards engineering projects and product advancements, fostering expansion within our ecosystem and boosting community interaction. Speaking on behalf of Cypher Capital as their Investment Lead, Harsh Agarwal stated this.
“We’re constantly seeking projects that can bring about substantial change within the industry. The unique way Space and Time combines AI with blockchain technology fits perfectly with our aim to support groundbreaking solutions. We believe their compute layer will be instrumental in determining the direction of future decentralized apps and trustless data handling.”
space-time recently secured funding during their Series A round, which comes after they received investments from Microsoft’s M12 Ventures back in September 2022. Their product portfolio focuses on blockchain indexing solutions for Ethereum (ETH), Bitcoin (BTC) and Polygon (MATIC).
This system, Space and Time, offers a data storage solution that allows for the combination and examination of data from both on-chain and off-chain sources using SQL tools. The project has devised a protocol resembling Proof of Work, named Proof of SQL, which utilizes a zero-knowledge proof processor to ensure scalable and trustless data processing.
On the project’s main site, it is detailed that the company’s system uses AI technology to facilitate natural language searches within the database. This means that users can pose questions regarding the data kept in the database or data storage, and receive appropriate responses and data in return.
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2024-08-29 17:50