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Space and Time Raise $20 Million Led By Microsoft’s M12

Space and Time, a Web3 data warehousing platform, earned $20 million in a strategic fundraising round spearheaded by M12, Microsoft’s new venture arm.

Framework Ventures, Polygon, Coin DCX, and Hash Capital are among the other investors in the round, according to a statement made by Reuters on Tuesday.

The fresh financing follows a $10 million seed round announced in July of this year. During the seed round, the team began talking with Microsoft and M12, according to Nate Holiday, CEO and co-founder of Space and Time.

“I think interest really grew on both sides and we saw that we can move faster together than us continuing to move without having their support. And so, in the summertime, it just became really exciting to really accelerate this and to put this together.”

Space and Time will first focus on Web3 games and DeFi technologies.

According to Holiday, the platform is already indexed by the biggest EVM chains, such as Polygon, Avalanche, and Ethereum, and the team is hard at work on indexing Solana. The startup aims to kick off the alpha launch at the end of this year and then in the spring launch Proof of SQL, he added.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.