Space and Time Secures $20 Million to Revolutionize Data Platforms in the Web3 Era

Funding Success: An Exciting Journey for Space and Time

Space and Time, a data platform with big dreams, recently celebrated a significant milestone by securing $20 million in a strategic funding round. This injection of capital comes from a diverse coalition of investors, including tech giants and influential venture capitalists like Microsoft’s M12 fund alongside Web3 stalwarts Avalanche and Polygon.

Meet the Investors: Who’s Backing Space and Time?

In addition to the major players like Microsoft, the investment roster boasts Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Stratos, Hash CIB, and Coin DCX, plus other angel investors sprinkled in for good measure. Quite the dinner party of finance!

Nate Holiday’s Vision: Trustless Databases for a Decentralized World

Nate Holiday, the co-founder and CEO of Space and Time, didn’t hold back when sharing the excitement, highlighting the intersection of on-chain and off-chain data computation as their sweet spot. According to Holiday, this funding will help in crafting an innovative data ecosystem tailored for decentralized applications and enterprise needs. The quest? To transform traditional databases into trustless data sources that are automated and robust.

Microsoft M12’s Enthusiasm: A Match Made in Tech Heaven

Michelle Gonzalez, an executive from M12, expressed optimism about the project, indicating anticipation for the outcomes of tying centralized and decentralized systems together. It’s like the tech world’s version of a buddy cop movie: the calm, controlled detective teams up with the rebellious street-smart informant.

The Chainlink Partnership: Strengthening Connections

As if the funding party wasn’t impressive enough, Space and Time has also forged a partnership with Chainlink, a well-regarded blockchain oracle firm. Joining the “Startup with Chainlink” program, they aim to enhance their capabilities in building a decentralized data warehouse.

The Bigger Picture: Investing in a Down Market

Despite broader market sluggishness, the Web3 sector seems to be thriving. Doodles, the NFT collection, recently announced a whopping $54 million in funding valuation of $704 million, while Mysten Labs, backed by former Meta pros, raised $300 million for Sui blockchain growth. Even in the depths of a market downturn, the future of Web3 seems anything but dim!