Cypher Capital Leads $20M Series A Funding Round for Space and Time (SxT)

by

As a seasoned crypto investor with over a decade of experience navigating the volatile and dynamic world of digital assets, I find myself intrigued by the latest investment move by Cypher Capital into Space and Time (SxT) network. Having witnessed the rise and fall of numerous blockchain projects, I am always on the lookout for those that not only promise innovation but also have a solid team behind them.

Cypher Capital, an investment firm based in Dubai with a significant focus on the blockchain sector, has revealed its significant participation in the Series A funding round for the Space and Time (SxT) network. This network is known as a reliable computing layer designed to support artificial intelligence and blockchain technology. As reported by Coinspeaker, Cypher Capital spearheaded other investment firms such as Framework Ventures, Lightspeed Faction, Arrington Capital, Hivemind Capital, Microsoft’s M12 Ventures, Digital Currency Group (DCG), F-Prime Capital, OKX Ventures, Circle Ventures, and Alumni Ventures, to name a few.

Consequently, Space and Time managed to secure a combined investment of $50 million from various backers, which they will use to establish the required infrastructure and foster a community that supports the widespread acceptance of smart contracts.

The $20 million raised during the Series A funding round will primarily be used for product advancement, expanding our overall ecosystem, and enhancing our community interactions.

Harsh Agarwal, Investment Lead at Cypher Capital, mentioned that they are constantly seeking projects that have the potential to create a substantial industry-wide impact. He stated that Space and Time’s unique method of combining AI with blockchain technology fits perfectly with their investment approach aimed at fostering groundbreaking solutions. He is confident that their compute layer will be instrumental in determining the future direction of decentralized applications and trustless data processing.

Space and Time Ready Mainstream Growth

The Space and Time initiative has been constructing its framework even during the crypto market downturn, making it ready to facilitate widespread acceptance as we navigate through the current bull trend driven by big-time investors.

Among the innovative creations by Space and Time, one stands out – a thorough indexing system for blockchains, which includes Ethereum (ETH), Bitcoin (BTC), and Polygon (MATIC). Another significant offering from Space andTime is a powerful data warehouse designed to seamlessly combine and scrutinize data from both blockchain and non-blockchain sources using SQL tools.

The Space and Time network has additionally created the validation of SQL, which is a zero-knowledge coprocessor designed for scalable and trustless data processing. Other offerings include a dashboard integrated with OpenAI, Space and Time Database, High-Throughput Analytic Processing (HTAP), and an API Gateway and streaming solution.

Consequently, the Space and Time network proves ideal for web3 developers aiming to construct sophisticated smart contracts, incorporating elements of gamification.

Cypher Capital Leads Web3 Investment

In simpler terms, Cypher Capital has been involved in early investments within the Web3 sector and consistently backs innovative projects. For example, they recently revealed their participation as one of the investors for Echelon, a non-custodial, decentralized lending protocol for gaming chains.

The Cypher Capital team is dedicated to offering Web3 developers the essential funds and knowledge they need to thrive within the blockchain environment.

Read More

2024-08-28 21:03