Space and Time Labs are pleased to announce that their team has secured a $20M Series A, bringing their total funding to $50 million.
SxT claims that they are empowering the community “to own their future in an AI-powered world by providing the tools they need to build sophisticated, data-driven applications, tokenize them onchain, and win in the AI economy.”
For example, the project’s developers explain that you may “generate a new world with Space and Time, secured by their sub-second ZK coprocessor.”
The Microsoft-backed startup (Space and Time Labs) confirmed in a blog post that it acquired $20 million via a Series A investment round, bringing its total funding to a substantial $50 million.
As noted by the team behind the Space and Time initiative, the funds from this latest round are intended to “accelerate engineering and product development and to enhance ecosystem and community growth.”
Space and Time aims to offer developers with insightful data, productive tools and infrastructure that is capable of enhancing the development of apps at the intersection of artificial intelligence (AI) and blockchain technology.
In 2022, the startup reportedly acquired $20 million as part of a funding round that was led by Microsoft’s venture unit M12.
As the development of the AI sector picks up pace, certain tech entrepreneurs as well as professionals assert that blockchain tech’s ability to assist with authenticating data may offer considerable deterrents against various perceived risks of an ecosystem increasingly dependent on AI algorithms.
At present, there is a lot of hype surrounding AI technologies, mainly because the sector has made unprecedented progress in the past few years. However, applying AI algorithms to scenarios where it is not effective can become a problem. While AI can enhance AML/KYC processes, it is still better to have some level of human involvement. And combining Ai with other technologies like blockchain/DLT are decisions that only experienced software architects should be undertaking.