Space and Time (SxT) Labs, the pioneering entity behind the verifiable compute layer, has triumphantly secured $20 million in Series A funding. This capital injection is set to bolster its dominance at the confluence of AI and blockchain technology. With this latest equity financing round, SxT’s cumulative funding now reaches an impressive $50 million. The freshly acquired funds will be funneled into accelerating engineering efforts, enhancing product innovation, and fostering ecosystem and community expansion.

This pivotal funding round was spearheaded by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital. The round also saw the participation of notable investors including Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures, Alumni Ventures, and other distinguished backers. This Series A follows a $20 million strategic round led by Microsoft’s M12 Ventures in September 2022.

“We are elated to announce our Series A funding, underpinned by our esteemed investors, as we accelerate toward a fairer AI future for internet users,” remarked Nate Holiday, Co-Founder and CEO of SxT. “Space and Time is steadfast in our commitment to empowering communities to shape their destinies in an AI-driven world by providing them with the essential tools to craft next-generation applications at the nexus of AI and blockchain.”

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Blockchain technology serves as the bedrock for genuine community ownership, enabling individuals to create applications, deploy them within their communities, and cultivate their own economies around their creations. As AI continues to revolutionize global economies and labor markets, blockchain technology empowers individuals to claim ownership of their innovations, paving the way for a more equitable economic future. SxT remains at the forefront of this new era of community-driven AI innovation by equipping developers with the data, infrastructure, and tools needed to build cutting-edge applications at the intersection of AI and blockchain.

The SxT network is underpinned by three core technologies:

1. Blockchain Indexing: SxT aggregates comprehensive data from major chains, including Ethereum, Bitcoin, ZKsync, Polygon, Sui, Aptos, and Sei, providing it at no cost to developers within the network.
2. Data Warehouse: The SxT data warehouse, now generally available, houses both indexed blockchain data and customer-loaded offchain datasets, allowing developers to analyze data using SQL. Since its launch, the data warehouse has seen explosive growth, with over 5.3 billion database requests monthly and a 300% increase in annual recurring revenue (ARR) over the past year.
3. ZK Coprocessor: In June, SxT introduced Proof of SQL, the world’s first sub-second zero-knowledge (ZK) coprocessor, enabling trustless data processing at scale. The team has been collaborating closely with enterprise partners to develop a groundbreaking solution for verifiable large language models (LLMs) using this innovative ZK technology.

SxT’s team is composed of leading AI and cryptography researchers who have already made significant impacts across the fields of AI, blockchain, and ZK. Microsoft, in a recent blog post, highlighted that its M12 portfolio company has been working closely with the Microsoft AI Co-Innovation Lab to accelerate the development of its generative AI tools. The SxT research team is currently collaborating with Microsoft on next-generation solutions for AI-powered app development.

“We have long been believers in SxT, particularly given their dedication to addressing the infrastructure needs of blockchain. We first invested in the company back in 2022,” said Michael Anderson, Co-Founder of Framework Ventures. “SxT is actively resolving infrastructure challenges, thereby enabling the creation of more applications that captivate users and drive interest. This unwavering support is rooted in our belief that Proof of SQL addresses the critical need to ensure that applications running on centralized databases worldwide are no longer vulnerable to tampering. At Framework, we believe blockchain is essential, and through companies like SxT, we can advance its use cases—not only within the DeFi ecosystem but also in TradFi and AI.”

About Space and Time

Space and Time (SxT) serves as the verifiable compute layer for AI and blockchain, bridging tamperproof onchain and offchain data to deliver enterprise-grade solutions to smart contracts and large language models (LLMs). SxT has engineered a novel cryptographic technology known as Proof of SQL, enabling developers to connect analytics directly to smart contracts, unlocking a wealth of new use cases and business logic on blockchain platforms. SxT is designed as a multichain data platform from the ground up, tailored for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain, and AI.

About Framework Ventures

Framework Ventures is a prominent venture capital firm in the crypto space, recognized for its early investments in several multi-billion dollar protocols within the DeFi and web3 gaming sectors. In 2022, the firm raised $400 million for its third fund and has since expanded significantly into maturing verticals like web3 gaming, real-world assets, and social crypto.