TLDR:
- SxT Labs raises $20 million in Series A funding round led by Framework Ventures.
- The company is working on a verifiable computing layer combining AI and blockchain technology.
Space and Time (SxT) Labs has secured $20 million in Series A funding, with support from Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital, as well as Microsoft’s M12 Ventures and OKX Ventures. The company is developing a verifiable computing layer that merges artificial intelligence and blockchain technology. The startup has already raised $50 million to advance its engineering and product development.
SxT Labs has spent the last two years building a proof-of-SQL, a zero-knowledge (ZK) circuit that allows smart contract developers and companies to verify data integrity. This solution could be valuable in decentralized finance (DeFi) for verifying borrower credibility and tracking asset performance. The startup’s data warehouse enables the analysis of both indexed blockchain data and centralized databases using SQL queries, ensuring data integrity on and offchain.
In beta since April 2023, the proof-of-SQL stack has processed over 5.3 billion database requests, generating $4.5 million in annual recurring revenue. The technology can be indexed on leading chains like Ethereum, Bitcoin, ZKsync, Polygon, Sui, Aptos, and Sei. The blockchain industry is seeing a rise in protocols developing similar solutions to enhance onchain infrastructure as institutional interest grows. Pi Square, for example, closed a $12 million funding round led by Polychain Capital for its ZK Circuit for blockchain transactions.
SxT Labs’ co-founder and CEO, Nate Holiday, believes that their technology will help realize the vision of blockchain technology by eliminating the need for trust as AI continues to advance.
