Funding announcement: Space and Time, a cutting-edge Web3 AI company, secures $20 million in Series A investment round.
Space and Time Secures $50 Million Series A Funding for Blockchain-AI Interoperability
Space and Time, a company operating in the emerging blockchain space, has announced a successful $50 million Series A funding round. The funding will primarily be used to enhance blockchain data infrastructure and increase interoperability between traditional cloud services and decentralized applications, particularly at the intersection of AI and blockchain technology.
The new funding round was led by Framework Ventures, with participation from Lightspeed Faction, Arrington Capital, and Hivemind Capital. This investment follows a previous $20 million funding round in 2022, which was led by Microsoft's M12 Fund, along with Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Polygon, Avalanche's Blizzard Fund, and others.
The Series A funding will support Space and Time's efforts to create more seamless and interoperable data ecosystems. The company's focus on artificial intelligence within the blockchain space is highlighted by their work on verifiable large language models and the recently introduced Proof of SQL processor, described as the "first sub-second zero-knowledge coprocessor that unlocks trustless data processing at scale."
Microsoft M12's participation in the previous funding round underscores their confidence in Space and Time's approach to blockchain data infrastructure. Framework Ventures co-founder Michael Anderson noted that blockchain is critical for advancing use cases not only within the DeFi universe, but also TradFi and AI.
The funds will also be used to boost ecosystem and community growth at Space and Time. However, no detailed breakdown of exact product or R&D targets within the $50 million raise is provided. The statement does not contain any new factual information regarding funding, products, or partnerships, nor does it provide any new insights into the company's plans for engineering, product development, ecosystem, or community growth.
Space and Time offers a suite of technology tools and infrastructure used by projects building at the intersection of artificial intelligence and blockchain technology. The company's statement emphasizes that blockchain technology empowers individuals to take ownership of what they build in the context of AI reshaping the global economy and job markets.
The news article does not provide any links for subscription or follow-up, and the statement does not reveal any new participants in Space and Time's funding rounds or provide any new details about the Proof of SQL processor or verifiable large language models.
[1] Source: Company's official statement
Read also:
- Global Gaming Company, LINEUP Games, Moves Into Extensive Global Web3 Multi-Platform Gaming Network
- Rebuilding Obstacles: The Complexities of Revamping: Part 2
- "Tesla's dominance in the electric vehicle industry may be facing competition from a new player: Škoda, as the German electric car market undergoes transformation."
- Ford Presents Economical Electric Vehicle Strategy: Boasts a Lower Total Expense over a Five-Year Period than a Pre-owned Tesla Model Y from Three Years Ago
