Business
Space and Time Raises $20 Million in Series A Funding
Space and Time, the innovative data platform, has successfully secured $20 million in Series A funding. This investment will accelerate their mission to revolutionize data management and enhance operational efficiency in the cloud.
Space and Time Secures $20 Million in Series A Funding
Space and Time (SxT), an innovative data warehousing solution built on blockchain technology, has successfully raised $20 million in its Series A funding round. This latest investment brings the company’s total funding to an impressive $50 million. The funding was spearheaded by notable investors including Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital.
The primary goal of SxT is to promote the decentralized ownership of data that fuels AI-driven applications. This approach aims to mitigate the risk of a few dominant players monopolizing the sector, thereby fostering a more equitable environment for all stakeholders.
At the core of SxT’s network lies a comprehensive collection of data sourced from major blockchains, such as Bitcoin and Ethereum. Additionally, the platform incorporates off-chain datasets, utilizing a zero-knowledge coprocessor that enables the processing of data at scale. This unique architecture not only enhances data security but also ensures the efficient handling of large volumes of information.