Dubai, UAE, August twenty eighth, 2024, Chainwire
Cypher Capital, a multi-strategy crypto funding agency, as we speak introduced its position in a $20 million Series A funding spherical for Space and Time (SxT) Labs. The spherical additionally had participation from notable funding companies Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital. Extra traders embody Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures, Alumni Ventures, amongst a number of others.
The Series A funding elevates Space and Time’s complete funding to $50 million, demonstrating confidence from the trade and funding group in their imaginative and prescient and capabilities. The funds shall be utilized to drive engineering and product growth, improve ecosystem progress, and bolster group engagement.
“We are always on the lookout for projects that stand to make a significant impact across the industry,” mentioned Harsh Agarwal, Funding Lead at Cypher Capital. “Space and Time’s innovative approach to integrating AI with blockchain technology aligns perfectly with our investment strategy to advance transformative solutions. We are sure their compute layer will play a pivotal role in shaping the future of decentralized applications and trustless data processing.”
The funding comes on the heels of a earlier strategic funding spherical led by Microsoft’s M12 Ventures in September 2022. Space and Time’s know-how suite contains complete blockchain indexing from main chains like Ethereum, Bitcoin, and Polygon; a sturdy information warehouse for integrating and analyzing each blockchain and offchain information with SQL-based instruments; and the Proof of SQL, an modern zero-knowledge coprocessor for scalable and trustless information processing. The workforce, that includes high specialists in AI, blockchain, and cryptography, is advancing the sphere with their collaboration with Microsoft’s AI Co-Innovation Lab to push the boundaries of generative AI options.
About Cypher Capital
Cypher Capital is a number one early-strategy enterprise agency centered on investing in Web3 infrastructure and purposes that can drive the brand new digital financial system. Guided by environmental, social, and governance for each funding resolution, Cypher is shaping the way forward for digital forex, public markets, and Web3.
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About Space and Time
Space and Time (SxT) is the verifiable compute layer for AI x blockchain that joins tamperproof onchain and offchain information to ship enterprise use instances to good contracts and LLMs. SxT has developed a novel cryptography known as Proof of SQL that enables builders to attach analytics on to good contracts, opening up a wealth of highly effective new use instances and enterprise logic on blockchain know-how. SxT is constructed from the bottom up as a multichain information platform for builders in monetary companies, gaming, DeFi, or any venture requiring verifiable information throughout enterprise, blockchain and AI.
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