- Funding Details
- Key SxT Technologies
- Roles and Comments
Space and Time (SxT), the firm building the verifiable compute layer, announced the raising of $20 million in Series A funding. This amount will allow the company to improve the ecosystem, expedite community growth, and enhance product and technical development.
Funding Details
The funding was led by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital, with participation from Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures, Alumni Ventures, and others. This funding follows a $20 million strategic funding round in September 2022, led by Microsoft’s M12 Ventures.
Key SxT Technologies
The SxT network combines three key technologies:
**Blockchain indexing:** SxT gathers extensive data from popular chains like Ethereum, Bitcoin, ZKsync, Polygon, Sui, Aptos, and Sei, providing it to network developers for free.
**Data warehouse:** Developers can use SQL to analyze indexed blockchain data and customer-loaded offchain datasets with the general availability of the SxT data warehouse, which has shown significant growth since its launch, averaging over 5.3 billion database requests each month and a 300% increase in annual recurring revenue (ARR) last year.
**ZK coprocessor:** SxT released Proof of SQL, the first sub-second ZK coprocessor allowing trustless data processing at scale, in June. This technology allows collaboration with corporate partners to create verifiable large language models (LLMs).
Roles and Comments
SxT Co-Founder and CEO Nate Holiday stated:
> “We are thrilled to announce our Series A funding round backed by our world-class investors in order to accelerate an equitable AI future for internet users. Space and Time is committed to empowering the community to own their future in an AI-powered world by providing the tools they need to build next-gen applications at the intersection of AI and blockchain.” [CITE_W_A]
Framework Ventures Co-Founder Michael Anderson commented:
> “We have long believed in SxT, particularly given their commitment to solving the infrastructure needs of blockchain, having first invested in the company back in 2022. At Framework, we believe that blockchain is critical, and it is through companies like SxT that we will be able to advance use cases not only within DeFi but also TradFi and AI.” [CITE_W_A]
The funding will allow Space and Time to continue developing its unique platform combining blockchain and AI, pushing for new waves of innovation and economic growth in this domain.
