The Celestia Foundation, a Liechtenstein-based nonprofit helping build Celestia, has raised $100 million from major crypto-focused venture capital firms, led by Bain Capital Crypto.
It was announced On September 23, this funding brings the total amount raised for the Celestia (TIA) project to $155 million to date. The team behind the standard data availability blockchain network raised $55 million in October 2022 ahead of the project’s launch.
Bain Capital and Polychain Capital co-led this fundraising campaign.
The latest capital injection attracted participation from Syncracy Capital, Robot Ventures, 1kx, Placeholder, among other venture capital firms and investors.
Celestia’s latest technical roadmap
The Celestia Foundation seeks to support Celestia developers as they bring high-productivity applications to the network. Notably, the $100 million raised comes on the back of Celestia’s core developer community. advertisement Technical roadmap of the project.
Scalability is a key focus, with developers aiming to increase the throughput of the standard consensus network to rival Visa’s transaction rate of around 24,000 transactions per second. According to the technical roadmap, achieving a 1GB block size would put Celestia on track to achieve this goal.
“When Celestia launched last year as the first layer to provide standardized data, it expanded the blockchain space from the dial-up era to the broadband era,”
Mustafa Al-Bassam, Co-Founder of Celestia.
Al-Bassam also noted that the new roadmap is not only about expanding the scope of blockchains, but also focuses on ensuring verifiability and low latency.
Celestia launched its mainnet beta in October 2023 and has seen notable developments since then, including the deployment of Aggregator Chains and Blobstream, which allows Celestia’s data availability layer to be streamed to Ethereum (ETH).
The platform has also partnered with Polygon Labs to integrate the DA layer with the Polygon Chain Development Kit.