Space and Time Raises $20 million in Series A to Advance AI and Blockchain Integration

Key takeaways:

• Space and Time secures $20 million in Series A funding led by Framework Ventures, bringing its total funding to $50 million.
• The funding will accelerate product development and ecosystem growth, particularly in AI and blockchain technology.
• Space and Time’s innovative Proof of SQL enables tamper-proof data processing, supporting new AI-driven applications.

Space and Time (SxT) Labs has announced the successful closure of a $20 million Series A funding round, reinforcing its leadership at the intersection of artificial intelligence (AI) and blockchain technology. This round, which raises the company’s total funding to $50 million, was led by Framework Ventures, with participation from Lightspeed Faction, Arrington Capital, Hivemind Capital, and other prominent investors.

We are thrilled to announce that Space and Time Labs has secured a $20M Series A, bringing our total funding to $50 million. 🚀⏳

SxT is empowering the community to own their future in an AI-powered world by providing the tools they need to build sophisticated, data-driven… pic.twitter.com/E87cVjtOl5

— Space and Time (@SpaceandTimeDB) August 27, 2024

The newly acquired funds are set to accelerate SxT’s engineering and product development efforts while fostering ecosystem and community growth. The company aims to provide developers with the necessary tools to build innovative applications that integrate AI with blockchain, laying the groundwork for a more equitable digital future.

“We are thrilled to announce our Series A funding round backed by our world-class investors in order to accelerate an equitable AI future for internet users. Space and Time is committed to empowering the community to own their future in an AI-powered world by providing the tools they need to build next-gen applications at the intersection of AI and blockchain.”—Nate Holiday, Co-Founder and CEO of SxT

Innovative technologies driving growth

Space and Time is pioneering several key technologies to support its vision. The company’s network integrates blockchain indexing, a comprehensive data warehouse, and a zero-knowledge (ZK) coprocessor known as Proof of SQL. This combination enables tamper-proof data processing at scale, a critical feature for developing verifiable large language models (LLMs) and other AI applications.

Space and Time review

The SxT data warehouse, which has seen rapid adoption since its launch, now processes over 5.3 billion database requests monthly and has achieved over 300% growth in annual recurring revenue (ARR) in the past year. Meanwhile, the Proof of SQL technology allows for the secure connection of analytics directly to smart contracts, opening up new possibilities for enterprise applications across multiple sectors, including finance, gaming, and decentralized finance (DeFi).

The bottom line

Space and Time’s latest funding round underscores its growing influence in the AI and blockchain sectors. By developing cutting-edge technologies and expanding its ecosystem, the company is well-positioned to lead the charge in creating a future where AI and blockchain empower communities and drive innovation.