Cypher Capital Supports Space and Time Series A $20 Million Round

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As a seasoned analyst with over two decades of experience in the tech and finance industries, I have witnessed the evolution of countless startups and their impact on the global landscape. The recent investment by Cypher Capital in Space and Time (SxT) Labs is a testament to the firm’s keen eye for identifying transformative projects.

Today, Cypher Capital, a company that invests in various strategies within the crypto world, announced their involvement in a $20 million Series A funding round for Space and Time (SxT) Labs. This investment is expected to significantly impact the data indexing scene of the Web3 environment.

Cypher Capital joins Framework Ventures, Lightspeed Faction in Space and Time funding campaign

Cryptocurrency investment company, Cypher Capital, announced its involvement in a $20 million fundraising effort for Space and Time (SxT), a versatile data warehouse that caters to both blockchain and AI technologies. This information about the round’s participants and total amount was made public on August 27, 2024.

The new portfolio wall of cypher 👍@cypher_capital

— Bill Qian (@billqian_uae) August 14, 2024

The round also saw participation from blue-chip investment firms Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital. 

Alongside a number of other investors, such as Microsoft’s M12 Ventures, Digital Currency Group (DCG), F-Prime Capital, OKX Ventures, Circle Ventures, and Alumni Ventures, SxT received support during its fundraising campaign.

Obtaining Series A funding increases Space and Time’s overall investment sum to a massive $50 million, signifying faith from both the industry and investment world in their vision and abilities. These resources are intended to fuel engineering advancements, boost product innovation, stimulate ecosystem expansion, and strengthen community interaction.

Harsh Agarwal, Head of Investments at Cypher Capital, finds the forward-thinking vision of Space and Time highly commendable, given its proven track record.

1. Our focus is continually on projects that could cause a substantial ripple effect throughout the industry. The unique method Space and Time employs, combining AI with blockchain technology, fits perfectly into our investment plan for promoting groundbreaking innovations. We firmly believe their computational layer will be instrumental in determining the direction of future decentralized applications and trustless data processing.

Previously reported by U.Today, in April 2024, Cypher Capital backed a funding round for a Shiba Inu-focused FHE layer-2 blockchain project.

Space and Time offers indexed data for Ethereum (ETH), Bitcoin (BTC), Polygon (MATIC) ecosystems

This new investment follows a strategic funding round that was led by Microsoft’s M12 Ventures back in September 2022, which was our previous investment.

As a researcher delving into the realm of digital assets, I’m fortunate to be working with Space and Time’s advanced technology stack. This suite offers extensive blockchain indexing from significant platforms such as Ethereum, Bitcoin, and Polygon. Additionally, it features a resilient data warehouse that seamlessly integrates and scrutinizes both on-chain and off-chain data using SQL-based instruments. Furthermore, I’m excited about Proof of SQL, an innovative zero-knowledge coprocessor, which enables efficient and trustless data processing at scale.

This highly skilled team, comprising leaders in artificial intelligence, blockchain, and cryptography, is making significant strides in their area by working together with Microsoft’s AI Collaborative Innovation Center to explore cutting-edge possibilities in generative AI technologies.

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2024-08-28 20:39