Microsoft’s M12 fund — the venture capital arm of Microsoft — Avalanche and Polygon led US$20 million funding round for decentralized data platform Space and Time.

Other investors participating the round include Stratos, Hash CIB, Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures and Coin DCX

Launched and incubated by Chainlink Labs, Space and Time uses the Chainlink price oracle platform along with other sources to pull data from blockchain protocols, decentralized applications (dApps), and off-chain systems with a goal of delivering enterprise-grade use cases to smart contract applications.

Commenting on the fund raise, Nate Holiday, the co-founder and CEO of Space and Time, the company will use the fresh capital to accelerate engineering and product development, as well as work with its partners to build a data ecosystem for decentralized applications and enterprises.

According to Nate, Space and Time’s solution can be applied to various areas of the rapid chaiging Web3 space, such as  decentralized finance (DeFi) and GameFi.

The protocal so far supports popular chains including Ethereum, Avalanche, Polygon, and BNB Chain, Solana is on the way as well.

Space and Time will also integrate with Microsoft’s cloud computing service Azure to provide its customers with an easy way to access, manage, and perform analytics on blockchain-native data.