The Celestia Foundation raised $100 million in its latest round, bringing the total to $155 million

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The Celestia Foundation has announced a successful $100 million fundraising 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.

Announcing $100 million in new fundraising, bringing total to $155 million.

With Celestia underneath ✨, developers can deploy unstoppable, high-performance, fully customizable apps.https://t.co/gOdTLqV353.

— Celestia (@CelestiaOrg) September 23, 2024

Celestia’s modular blockchain technology has attracted attention since its Mainnet Beta launch in October 2023. Celestia has redefined the way traditional blockchains work, moving away from the monolithic Layer 1 structure, allowing developers to build high-performance applications on any virtual machine or rollup frame. .

Celestia’s recent $100 million raise comes as the platform aims to further push the boundaries of blockchain scalability. The core developer community has outlined a technical roadmap designed to scale throughput to 1 gigabyte blocks. This ambitious goal would allow Celestia’s cumulative ecosystem to reach levels of data transfer well beyond the limits of traditional blockchains.

To put this into perspective, the throughput of legacy systems like Visa, which process around 24,000 transactions per second (TPS), is often seen as a benchmark. Celestia, however, aims to provide the capability of multiple Visa networks running in parallel.

“When Celestia launched last year as the first modular tier of data availability, it scaled the block space from the dial-up era to the broadband era,” said Mustafa Al-Bassam, co-founder of Celestia. “Now, core developers have introduced the technical roadmap to scale blockchain to the fiber-optic era, while keeping it verifiable and low-latency.”

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