Gate Ventures is excited to announce its strategic investment in Space and Time (SxT) as part of the company’s Series A funding round.
This round marks a significant milestone for SxT and underscores Gate Ventures’ commitment to supporting pioneering technologies within the Web3 and decentralized data ecosystems.
The Series A round, which was publicly disclosed on Tuesday, August 27th, 2024, will further propel SxT’s mission to build and expand decentralized data infrastructure, essential for the future of Web3. The funds raised will be directed towards enhancing SxT’s innovative data platform, which is designed to provide verifiable and trustless data services that power smart contracts and decentralized applications (dApps).
SxT’s Series A comes at a pivotal moment as the demand for secure, scalable, and decentralized data solutions continues to rise. With Gate Ventures’ strategic investment, SxT’s platform, which allows for trustless data verification, is poised to become a cornerstone of Web3 infrastructure, enabling a new era of data integrity and transparency.
The Series A funding will empower SxT to accelerate its product development, expand its global presence, and strengthen its partnerships across blockchain and decentralized finance (DeFi) ecosystems.
The SxT team conveyed their excitement about the Series A funding round, supported by prominent investors, to accelerate the development of an equitable AI future for internet users. They emphasized their commitment to empowering the community to shape their future in an AI-driven world by offering the necessary tools to build next-generation applications at the intersection of AI and blockchain.
Gate Ventures, as one of the investors, aligns with this vision, contributing to the broader mission of enabling innovation and growth in this transformative space.
About Gate Ventures
Gate Ventures is the venture capital arm of Gate.io, one of the world’s leading cryptocurrency exchanges. The firm focuses on investing in innovative projects and companies within the blockchain and Web3 ecosystems. By supporting visionary entrepreneurs and technologies, Gate Ventures aims to accelerate the adoption and integration of blockchain solutions across various industries.
About Space and Time
Space and Time (SxT) is the verifiable compute layer for AI x blockchain that joins tamperproof onchain and offchain data to deliver enterprise use cases to smart contracts and LLMs. SxT has developed a novel cryptography called Proof of SQL that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. SxT is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.
The post Gate Ventures Invests in Space and Time’s Series A Round, Advancing Web3 Infrastructure with AI Innovation appeared first on BeInCrypto.
All credit goes to the original author and article which can be read here:
https://beincrypto.com/gate-ventures-invests-in-space-and-times-series-a-round/
