Space and Time is providing comprehensive indexed data solutions for the Ethereum (ETH), Bitcoin (BTC), and Polygon (MATIC) ecosystems.

Cypher Capital, a distinguished multi-strategy crypto investment firm, has announced its significant role in a $20 million Series A funding round for Space and Time (SxT) Labs. This substantial funding round is poised to revolutionize the data indexing landscape for Web3 technologies.

Yesterday, on August 27, 2024, Cypher Capital revealed its participation in the Series A fundraising campaign for Space and Time, a cutting-edge data warehouse designed to integrate blockchain and AI technologies seamlessly. This funding round also included other notable blue-chip investment firms such as Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital.

In addition to these key players, several other prominent investors like Microsoft’s M12 Ventures, Digital Currency Group (DCG), F-Prime Capital, OKX Ventures, Circle Ventures, and Alumni Ventures also supported Space and Time’s ambitious fundraising efforts.

With this latest infusion of capital, Space and Time has now amassed a total investment of $50 million. This significant financial backing underscores the confidence that the industry and the broader investment community have in Space and Time’s visionary approach and technical capabilities. The newly acquired funds will be strategically allocated to drive engineering excellence, accelerate product development, foster ecosystem growth, and enhance community engagement.

Harsh Agarwal, the Investment Lead at Cypher Capital, expressed his admiration for Space and Time’s vision and their impressive achievements to date. He stated:

“We are constantly seeking projects capable of making a profound impact across the industry. Space and Time’s innovative fusion of AI with blockchain technology aligns perfectly with our investment strategy aimed at promoting transformative solutions. We firmly believe that their compute layer will play a crucial role in shaping the future of decentralized applications and trustless data processing.”

As previously reported by U.Today in April 2024, Cypher Capital had also supported a funding round for a Shiba Inu-centric Fully Homomorphic Encryption (FHE) layer-2 blockchain.

This recent investment follows an earlier strategic funding round led by Microsoft’s M12 Ventures in September 2022.

Space and Time’s technology suite offers comprehensive blockchain indexing from major chains like Ethereum, Bitcoin, and Polygon. It features a robust data warehouse capable of integrating and analyzing both blockchain and off-chain data using SQL-based tools. One of its standout innovations is Proof of SQL, a zero-knowledge coprocessor designed for scalable and trustless data processing.

The Space and Time team comprises leading experts in AI, blockchain, and cryptography. They are pushing the boundaries of generative AI solutions through their collaboration with Microsoft’s AI Co-Innovation Lab. This partnership aims to advance the field further by exploring new frontiers in AI-driven blockchain technology.