The Liechtenstein-based non-profit organization Celestia Foundation has announced raising $100 million from leading venture capital firms, including Bain Capital Crypto.
Major Investments
On September 23, Celestia Foundation announced raising $100 million, bringing the total amount invested in the project to $155 million. In October 2022, the Celestia team had previously raised $55 million ahead of the project’s launch. The latest funding round also included Polychain Capital, Syncracy Capital, Robot Ventures, 1kx, and Placeholder.
Celestia’s Technical Roadmap
The Celestia Foundation aims to support Celestia developers in building high-throughput applications. The key focus is on scaling the network's consensus to achieve throughput similar to Visa's roughly 24,000 transactions per second. Reaching 1-gigabyte blocks is a crucial step towards this goal. According to Celestia co-founder Mustafa Al-Bassam, the new technical roadmap focuses on further scaling block space while ensuring verifiability and low latency.
Plans and Partnerships
In October 2023, Celestia launched its mainnet beta and has achieved notable milestones, including the deployment of rollup chains and Blobstream. The platform has also partnered with Polygon Labs to integrate the DA layer with the Polygon Chain Development Kit.
The Celestia Foundation continues to actively develop its technical infrastructure and expand partnerships within the crypto community, supporting its mission to ensure scalable and accessible blockchains.
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