The Celsia Foundation raised $100 million in its latest round, bringing its total to $155 million.
Key receivers
Celestia Foundation's latest $100M funding round was led by Bain Capital Crypto. Celestia plans to increase the bandwidth to 1 gigabyte, aiming to exceed Visa's capacity.
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Celestia Foundation has announced a successful $100 million funding round led by Bain Capital Crypto with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder and others. This latest round brings the total funding raised by the Celestia project to an impressive $155 million.
Announced $100M in new fundraising, bringing total raised to $155M.
Under Celestia ✨, developers can deploy full-stack customizable and non-stop applications.
— Celestia (@CelestiaOrg) September 23, 2024
Celestia's modular blockchain technology has attracted attention since its Mainnet Beta launch in October 2023. .
Celestia's latest $100 million raise comes as the platform looks to further push the boundaries of blockchain expansion. The core developer community has outlined a technical roadmap designed to increase consumption to 1 gigabyte blocks. This ambitious goal enables Celestia's rollup ecosystem to achieve levels of data flow far beyond the scope of traditional blockchains.
To put this into perspective, legacy systems such as Visa that process 24,000 transactions per second (TPS) are often seen as benchmarks. Celestia, however, is looking to deliver the capabilities of multiple Visa networks operating in parallel.
“When Celestia was launched last year as the first modular data access layer, it advanced the block space from the dial-up era to the broadband era,” said Mustafa Al Bassam, founder of Celestia. “Now, major developers have introduced the technical roadmap to adapt the block space to the fiber optic era – ensuring that it remains secure and low-latency.”
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