Cypher Capital Supports Space and Time Series A $20 Million Round
Cypher Capital, a multi-strategy crypto investment firm, shared today the details of its participation in a $20 million Series A funding round for Space and Time (SxT) Labs. The round is expected to play a critical role in the data indexing landscape for Web3.
Cypher Capital joins Framework Ventures, Lightspeed Faction in Space and Time funding campaign
Major blockchain investing firm Cypher Capital disclosed its participation in a $20 million Series A fundraising campaign for Space and Time (SxT), a multi-purpose data warehouse for blockchain and AI. The round's participants and amount were published yesterday, on Aug. 27, 2024.
The round also saw participation from blue-chip investment firms Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital.
Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures and Alumni Ventures, among several others, also backed SxT in its fundraising efforts.
The Series A funding elevates Space and Time’s total investment to $50 million, demonstrating confidence from the industry and investment community in its vision and capabilities. The funds will be utilized to drive engineering and product development, enhance ecosystem growth and bolster community engagement.
Harsh Agarwal, Investment Lead at Cypher Capital, is impressed by Space and Time's vision and the accomplishments it has demonstrated so far:
We are always on the lookout for projects that stand to make a significant impact across the industry. Space and Time’s innovative approach to integrating AI with blockchain technology aligns perfectly with our investment strategy to advance transformative solutions. We are sure their compute layer will play a pivotal role in shaping the future of decentralized applications and trustless data processing.
As covered by U.Today previously, in April 2024, Cypher Capital supported the round for Shiba Inu-centric FHE layer-2 blockchain.
Space and Time offers indexed data for Ethereum (ETH), Bitcoin (BTC), Polygon (MATIC) ecosystems
The investment comes on the heels of a previous strategic funding round led by Microsoft’s M12 Ventures in September 2022.
Space and Time’s technology suite includes comprehensive blockchain indexing from major chains like Ethereum, Bitcoin and Polygon; a robust data warehouse for integrating and analyzing both blockchain and off-chain data with SQL-based tools and Proof of SQL, an innovative zero-knowledge coprocessor for scalable and trustless data processing.
Vladislav SopovThe team, featuring top experts in AI, blockchain and cryptography, is advancing the field with its collaboration with Microsoft’s AI Co-Innovation Lab to push the boundaries of generative AI solutions.
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