August 27, 2024
Space and Time Labs, a startup supported by Microsoft, has secured $20 million in Series A funding, bringing its total funding to $50 million. The company plans to use these funds to speed up engineering and product development, as well as to foster ecosystem and community growth.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Space and Time Labs | $20M | August 27, 2024 | Series A | $50m | Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital | AI |
The startup aims to equip developers with data, tools, and infrastructure to enhance the creation of applications that merge artificial intelligence and blockchain. In 2022, Space and Time raised $20 million in a funding round led by Microsoft’s venture arm, M12.
As AI technology rapidly advances, some tech leaders believe blockchain can help verify data and mitigate risks associated with increased AI reliance. For instance, Sam Altman, CEO of OpenAI, balances his role in AI with his involvement in blockchain through Tools for Humanity, the developer behind the Worldcoin project, which aims to differentiate humans from AI entities.
The Series A funding of $20 million, announced on Tuesday, was spearheaded by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital. Michael Anderson, co-founder of Framework Ventures, emphasized the importance of blockchain, stating that companies like Space and Time are essential for advancing its applications in decentralized finance (DeFi), traditional finance (TradFi), and artificial intelligence (AI).
About Space and Time Labs
Space and Time is a decentralized platform that combines artificial intelligence (AI) and blockchain technology. It provides tools and infrastructure for developers to create applications that use data from both on-chain (blockchain) and off-chain sources. The platform offers features like real-time data access, secure data processing, and the ability to run complex queries quickly and accurately.
Website: https://www.spaceandtime.io/
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About Investor
This round was spearheaded by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital.
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