Quick take:
- The round brings the total raised to $50 million following a $20 million announcement in 2022, which Microsoft’s M12 Fund led.
- Space and Time plans to use the fresh capital to accelerate engineering and product development and to boost ecosystem and community growth.
- The company offers data, tools and infrastructure used by companies building at the intersection of AI and blockchain technology.
Space and Time has announced a $20 million Series A round led by Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital.
The decentralised AI infrastructure provider has now raised $50 million in total following another $20 million funding round announced in 2022. Microsoft’s M12 fund led the earlier round, which also attracted participation from the likes of Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Polygon and Avalanche’s Blizzard Fund.
Space and Time said it plans to use the fresh capital to accelerate engineering and product development and to boost ecosystem and community growth.
The company offers a suite of technology tools and infrastructure used by projects building at the intersection of artificial intelligence and blockchain technology.
In June, Space and Time introduced Proof of SQL processor described as the “first sub-second zero-knowledge coprocessor that unlocks trustless data processing at scale.” According to the announcement, the company is also working to create verifiable large language models.
Space and Time is among an emerging vertical in the blockchain space that is leveraging blockchain technology to address issues related to artificial intelligence.
“With AI continuing to reshape both the global economy and job markets, blockchain empowers individuals to take ownership of what they build,” the company said in its statement.
Commenting on his company’s leading role in the Series A round, Framework Ventures co-founder Michael Anderson said in the statement: “We believe that blockchain is critical and it is through companies like [Space and Time] that we will be able to advance the use cases, not only within the DeFi universe, but also TradFi and AI.”
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