Venture in web3 artificial intelligence, Space and Time, secures $20 million in Series A funding round.
Space and Time, a pioneering spacetech startup, has announced a significant funding round of $50 million. This investment, led by Reliance Industries, will primarily be used to enhance engineering, product development, and ecosystem growth.
With this funding, Space and Time aims to create critical space infrastructure and innovative systems for tracking and monitoring objects in Earth's orbit, including space debris as small as 5 centimeters. This development is crucial for both civilian and military space interests in a geopolitical context that demands sovereign, resilient space capabilities.
The strategic use of AI and blockchain technology positions Space and Time at the forefront of creating autonomous, scalable, and reliable space monitoring solutions. Digantara, a closely related company to Space and Time, incorporates AI to process and analyze large-scale orbital data effectively, enhancing space situational awareness. Blockchain underpins data integrity and security across the ecosystem, offering a decentralized, tamper-proof ledger of space object tracking information. This combination allows for transparent, immutable data sharing and collaboration between stakeholders in the space ecosystem.
Beyond accelerating engineering and product development, Space and Time also plans to boost ecosystem and community growth with the new funds. The company offers data, tools, and infrastructure for companies building at the intersection of AI and blockchain technology.
Michael Anderson, co-founder of Framework Ventures, which co-led the Series A round for Space and Time, expressed belief that blockchain is critical for advancing AI use cases, not just in DeFi, but also in TradFi. In June, Space and Time introduced the Proof of SQL processor, the "first sub-second zero-knowledge coprocessor that unlocks trustless data processing at scale."
This funding round brings Space and Time's total raised to $50 million, following an earlier round of $20 million led by Microsoft's M12 Fund in 2022. The company is now working to create verifiable large language models, further cementing its position in the emerging vertical within the blockchain space focusing on AI-related issues.
Space and Time's statement emphasizes that blockchain technology empowers individuals to take ownership of what they build in the context of AI and the global economy. As the demands for space surveillance and security continue to rise, Space and Time is poised to play a vital role in ensuring a safe and secure space environment.
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