Cha-ching! Web3 and tech companies participated in a funding round for a data platform called Space and Time which aims to transform central databases into trustless data sources powered by smart contracts.
Web3 and tech companies have participated in a funding round for data platform Space and Time, which aims to transform central databases into trustless data sources powered by smart contracts.
In an announcement sent to Cointelegraph, Space and Time mentioned that it raised $20 million in strategic funding from investors like Microsoft’s M12 fund — the venture capital arm of Microsoft — Avalanche and Polygon. Investors also included Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Stratos, Hash CIB, Coin DCX, and other Web3 communities and angel investors.
Nate Holiday, the co-founder and CEO of Space and Time, expressed his excitement to have the support of Microsoft’s venture capital fund. He stated that the firm is at the intersection of on-chain and off-chain data computation. According to Holiday, it will work with its partners to build a data ecosystem forMichelle Gonzalez, an executive at M12, expressed that M12 is looking forward to seeing the results and how centralized systems can be automated and connected to smart contracts.
Space and Time has also partnered with blockchain oracle firm Chainlink and is a part of its “Startup with Chainlink” program. Sergey Nazarov, the co-founder of Chainlink, said that the firm would continue to support Space and Time in its quest to build a decentralized data warehouse.