According to the official statement, the Celestia (TIA) foundation raised $100 million.
Celestia Foundation today announced that it has raised $100 million in new funding led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and others. This latest round brings Celestia’s total funding to $155 million.
Celestia’s Mainnet Beta, which launched in October 2023, introduced what they say is the world’s first modular consensus and data network that provides a unique approach to scaling blockchains. Since launch, the ecosystem has grown rapidly, with developers building 20 rollup chains and Celestia data blobs now representing more than half of the data published by rollups.
Celestia departs from traditional monolithic Layer 1 (L1) blockchain models where applications run on a single, shared execution layer. Celestia provides greater throughput scalability by eliminating execution layer overhead.
Developers can build high-performance decentralized applications using any virtual machine (VM) and are not limited to a single smart contract language or rollup framework.
The funding comes as Celestia’s core developer community unveils an ambitious technical roadmap to scale to 1 gigabyte blocks. This upgrade is expected to significantly increase data throughput for Celestia’s rollup ecosystem. With these improvements, Celestia is on track to achieve throughput that rivals or surpasses traditional payment networks like Visa, which processes approximately 24,000 transactions per second (TPS).
*This is not investment advice.