Key Points
- Space and Time Labs has raised $20 million in Series A funding, bringing its total funding to $50 million. This round was led by notable investors, including Framework Ventures and Lightspeed Faction.
- The startup is focused on developing tools and infrastructure at the intersection of AI and blockchain, aiming to empower developers to build sophisticated, data-driven applications and tokenize them on-chain.
Microsoft-Backed Startup Expands Its Vision
Space and Time Labs, a startup previously backed by Microsoft’s venture arm M12, has announced a significant milestone in its journey to bridge the worlds of artificial intelligence and blockchain technology. The company has secured $20 million in Series A funding, elevating its total funding to an impressive $50 million.
A group of prominent investors, including Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital, spearheaded this latest funding round. The capital is earmarked for accelerating engineering and product development efforts and fostering ecosystem and community growth.
Empowering Developers in the AI Economy
At the heart of Space and Time Labs’ mission is equipping developers with the necessary tools to thrive in an increasingly AI-driven world. The company is developing infrastructure that allows for creating sophisticated, data-driven applications tokenized on-chain, potentially revolutionizing how developers interact with and monetize their creations in the AI economy.
Michael Anderson, co-founder of Framework Ventures, emphasized the importance of blockchain technology in this new landscape: “We believe that blockchain is critical, and it is through companies like Space and Time that we will be able to advance the use cases, not only within the DeFi universe but also TradFi and AI.”
Innovative Technology: Proof of SQL and Verifiable LLMs
One of Space and Time Labs’ key innovations is their “Proof of SQL” technology, which they describe as the “first sub-second zero-knowledge coprocessor that unlocks trustless data processing at scale.” Released in June, this technology aims to provide a new level of efficiency and trust in data processing.
Additionally, the company has announced its work on developing verifiable large language models (LLMs). This initiative could address some concerns surrounding AI authenticity and reliability, aligning with broader industry efforts to create safeguards in the rapidly evolving AI sector.
As the AI industry continues to advance at a breakneck pace, Space and Time Labs is positioning itself at the forefront of efforts to leverage blockchain technology to empower individuals and mitigatepotential AI-related risks. With this new funding, the company is well-positioned to continue its innovative work at the intersection of these transformative technologies.
