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Space and Time Raises $20 Million to Merge Blockchain and AI for Transparent Data

2024/08/28 12:10

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Space and Time (SxT) announced on August 27 that it has secured $20 million in Series A funding to advance its technology, which aims to integrate blockchain with AI applications.

This round brings the company's total funding to $50 million, including a prior $20 million investment from Microsoft's venture capital fund, M12.

Focus on Transparency and Verifiability

The new funding will support the development of blockchain-based tools that ensure AI outputs are transparent and verifiable. These tools will verify the origins and accuracy of data processed by AI, ensuring that results can be trusted and traced back to their sources.

Venture Capital Backing

The funding round was led by venture capital firms with a focus on crypto, including Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital. Framework Ventures co-founder Michael Anderson praised Space and Time for developing real technology that addresses critical issues in the blockchain and AI space.

2/ Our Ecosystem: Industry-Leading Investors and Partners 🚀

The round was led by @hiFramework, @FactionVC, @Arrington_Cap, and @HivemindCap, with participation from leading funds like @Microsoft’s @M12vc, @DCGco, @FPrimeCapital, @OKX_Ventures, @circle_ventures, @alumniventures,… pic.twitter.com/cp4WoAGu1Z
— Space and Time (@SpaceandTimeDB) August 27, 2024

Blockchain's Role in Data Integrity

Space and Time aims to use blockchain's immutable nature to create a reliable layer for AI data. By ensuring data integrity and authenticity, the company seeks to eliminate the need for intermediaries in verifying AI outputs.

The first sub-second ZK coprocessor, optimized for SQL, has also been launched to enable smart contracts to process data at a speed suitable for transactions.

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