Venture company Space and Time in the Web3 AI sector secures $20 million in a Series A funding round
In the realm of space-temporal data infrastructure, Space and Time, a company known for its innovative blockchain solutions, has recently secured a significant funding boost. However, specific details about the funding status and capital allocation plans of Space and Time are not explicitly mentioned in the current search results.
The latest development sees Space and Time announcing a $20 million Series A round, led by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital. This funding round follows a $20 million investment in 2022, led by Microsoft's M12 Fund, bringing the total raised by Space and Time to $50 million.
The fresh capital will be instrumental in accelerating engineering and product development, as well as boosting ecosystem and community growth. Space and Time's products have already found a home in the AI and blockchain technology sectors, and this funding round is expected to further solidify their position in these markets.
One of the key innovations Space and Time has introduced is the Proof of SQL processor, described as the "first sub-second zero-knowledge coprocessor that unlocks trustless data processing at scale." This technology is expected to revolutionize the way data is processed and managed in the blockchain ecosystem.
Space and Time is also making strides in the development of verifiable large language models, a testament to their commitment to AI-related issues. The company's focus on blockchain technology is not just limited to the decentralized finance (DeFi) realm but extends into traditional finance (TradFi) and AI applications as well.
The global economy and job markets are undergoing a transformation due to AI, and Space and Time is positioning itself to play a significant role in this shift. The company's products offer a suite of technology tools and infrastructure that are essential for projects operating at the intersection of artificial intelligence and blockchain technology.
It's important to note that while there is no specific information available about the funding details and plans of Space and Time from the search results, industry norms suggest that a significant portion of the raised capital will be allocated towards engineering, product development, and ecosystem growth. For more detailed information, it's advisable to check direct company press releases, funding announcements, or recent interviews.
In a statement, Framework Ventures co-founder Michael Anderson highlighted Space and Time's leading role in the Series A round, emphasizing the critical role of blockchain in advancing use cases beyond DeFi, into TradFi and AI. Anderson also emphasized the importance of blockchain in empowering individuals to own their AI creations.
As Space and Time continues to make strides in the blockchain and AI sectors, the $50 million Series A funding round is poised to propel the company towards even greater heights. The company's innovative solutions and commitment to AI-related issues make it a force to be reckoned with in the rapidly evolving technological landscape.
The $50 million Series A funding round, led by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital, will be employed to accelerate engineering and product development, as well as bolster ecosystem and community growth at Space and Time. This news amplifies Space and Time's position in the AI and blockchain technology sectors, particularly in the advancement of artificial intelligence, fostering a hub of innovations.
