The Web3 data platform Space and Time has attracted strategic funding of $20 million from major investors led by Microsoft M12. According to ForkLog, representatives of the company said.
Other participants in the round include Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Polygon, Blizzard, Stratos, Hash Capital, Coin DCX, as well as several leading Web3 communities and angel investors.
Space and Time automates business logic using patented cryptography, Proof-of-SQL. According to the developers, directly linking smart contracts to the platform’s decentralized data store enables broad use cases in Web3.
The planned integration with Microsoft Azure will give the platform’s clients access to blockchain-based analytics.
The project also intends to collaborate with Chainlink to expand the capabilities of hybrid smart contracts when operating in a trustless environment. Developers will be able to create multi-chain dаpps, and also decentralised and affordably generate analytical data.
The funds will be used by Space and Time to further design and develop products.
Earlier the company raised $10 million in a seed round led by Framework Ventures.
Last week, the crypto startup Immunefi, which helps DeFi projects run bug-bounty programs on their platforms, closed a Series A round for $24 million.
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