Dubai, UAE, August 28th, 2024, Chainwire
Cypher Capital, a multi-strategy crypto investment firm, today announced its role in a $20 million Series A funding round for Space and Time (SxT) Labs. The round also had participation from notable investment firms Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital. Additional investors include Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures, Alumni Ventures, among several others.
The Series A funding elevates Space and Time’s total investment to $50 million, demonstrating confidence from the industry and investment community in their vision and capabilities. The funds will be utilized to drive engineering and product development, enhance ecosystem growth, and bolster community engagement.
“We are always on the lookout for projects that stand to make a significant impact across the industry,” said Harsh Agarwal, Investment 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 investment comes on the heels of a previous strategic funding round led by Microsoft’s M12 Ventures in September 2022. Space and Time’s technology suite includes comprehensive blockchain indexing from major chains like Ethereum, Bitcoin, and Polygon; a robust data warehouse for integrating and analyzing both blockchain and offchain data with SQL-based tools; and the Proof of SQL, an innovative zero-knowledge coprocessor for scalable and trustless data processing. The team, featuring top experts in AI, blockchain, and cryptography, is advancing the field with their collaboration with Microsoft’s AI Co-Innovation Lab to push the boundaries of generative AI solutions.
About Cypher Capital
Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, 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 data to deliver enterprise use cases to smart contracts and LLMs. SxT has developed a novel cryptography called Proof of SQL that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. SxT is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.
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