UAE based Cypher Capital has invested in AI and Blockchain startup Space and Time (SxT) as part of the $20 million Series A funding round.
SxT is a verifiable compute layer designed to boost the mainstream adoption of DeFi protocols and smart contracts by combining the power of AI and blockchain.
Space and Time (SxT) Labs raised $20 million in Series A funding led by Framework Ventures. CypherCapital was among several ventures capital firms that included Lightspeed Faction, Arrington Capital, and Hivemind Capital, Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX ventures, Circle Ventures and Alumni Ventures.
Vineet Budki, Managing Partner, Cypher Capital noted on Linkedin, “ Cypher Capital LLC is excited to be part of the $20M Series A funding round for the Space and Time (SxT) network, a groundbreaking project at this intersection. Among SxT innovations is a comprehensive blockchain indexing system that supports Ethereum (ETH), Bitcoin (BTC), and Polygon (MATIC) networks. The network also features a robust data warehouse that integrates and analyses both blockchain and off-chain data using SQL-based tools, along with the proof of SQL for scalable, trustless data processing.”
Other standout products include the hashtag#Space and hashtag#Time DB, API Gateway & streaming, Extreme Workloads (HTAP), and a dashboard powered by OpenAI.
To date SxT Labs has secure $50 million in funding to accelerate engineering and product development.
SxT Labs has reportedly spent the last two years building its proof-of-SQL, a zero-knowledge (ZK) circuit that provides smart contract developers and companies with the capability to verify data integrity. In decentralized finance (DeFi), for instance, the solution could be used to verify the credibility of borrowers based on real-time data or to track the performance of assets.
The startup’s data warehouse allows both indexed blockchain data and centralized databases to be analyzed using SQL queries, thus providing a way to verify the integrity of data and operations on and offchain.
Recently Cypher Capital also participated in investment in Echelon decentralized lending platform.
