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The
company, which aims to run analytics on data stored on
blockchain as well as outside of it for smart contracts, plans
to use the funding to hire more engineers, said Nate Holiday,
co-founder, Space and Time.
"There is massive amounts of data and use cases coming from
blockchain technology's multi-chain world, and insights and data
from centralized data stores ... and Space and Time sits at the
bridge that links them," Holiday said.
Space and Time is currently testing its technology with Web3
gaming platforms, Holiday added. Web3 is a term used to refer to
a utopian, decentralized version of the internet.
The company also said it would integrate with Microsoft's Azure,
that would allow customers of the cloud-computing business to
access, manage and perform analytics on blockchain-stored data.
Space and Time plans to launch an alpha version of its product
by the end of this year, a beta launch in Spring of 2023, and
expects the product to go live in the fall of 2023, Holiday
said.
The Newport Beach, California-based firm, founded as a part of
Chainlink Labs' startup program, raised $10 million in seed
funding in July.
The latest funding round also saw participation from Framework
Ventures, HashKey, Polygon, Blizzard the Avalanche Fund, and
Coin DCX, among others.
(Reporting by Medha Singh in Bengaluru; Editing by Vinay Dwivedi)
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