Celestia Foundation announced securing $100 million in a funding round. The funds are set to improve blockchain scalability through its modular architecture.

Investment and Plans

The funding round was led by Bain Capital Crypto, with other investors including Syncracy Capital, 1kx, Robot Ventures, and Placeholder. With this, Celestia has now raised a total of $155 million. The funds will be channeled towards scaling and data availability.

Addressing Scalability Issues

Celestia aims to build a blockchain infrastructure supporting real-world applications, emphasizing improved throughput and reduced costs. Traditional blockchains like Ethereum handle consensus, data availability, and execution on a single layer, creating bottlenecks. Celestia addresses this by separating the consensus and data availability layers from the execution layer.

Innovations and Achievements

Celestia's key innovation is its modular blockchain architecture, enabling the creation of specialized blockchains for specific needs. Since launching Celestia's Mainnet Beta in October 2023, over 20 rollup chains have been deployed. The technical roadmap includes ambitious plans to scale to 1 gigabyte blocks.

With new investments, Celestia aims to significantly enhance blockchain scalability. The company continues to innovate, improving efficiency and accessibility.