The Celestia Foundation announced it has raised $100 million in support led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, etc. And this brings the project’s total amount raised to $155 million.
Celestia Mainnet Beta went live in October 2023 and delivered the industry’s first specialized modular consensus and data network. Since launch, an early ecosystem has taken form, with developers deploying the first 20 rollup chains and Celestia data blobs recently hitting more than half of the total data published by rollups.
Before Celestia, scaling permissionless blockchains typically meant optimizing a monolithic L1, where applications ran on a single shared execution layer. However, Celestia is not constrained by execution layer overhead, enabling a path to scale throughput beyond current monolithic constraints. Developers are not confined to a single smart contract language, virtual machine, or even a rollup framework.
With Celestia underneath, developers can deploy high-throughput and unstoppable applications using any VM, whether to scale existing ecosystems like Ethereum or as their sovereign networks.
Celestia’s core developer community recently announced its technical roadmap, with a core objective: relentlessly scale to 1-gigabyte blocks, bringing a massive increase in data throughput to Celestia’s rollup ecosystem. In a previous era, Visa’s throughput (~24,000 TPS) was considered an impressive North Star. With 1 gigabyte blocks, Celestia is tracking to deliver the capacity of many Visa networks in parallel.
KEY QUOTE:
“When Celestia launched last year as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era. Now, the core developers have introduced the technical roadmap to scale blockspace to the fiber optic era – while keeping it verifiable and low latency.”
- Mustafa Al-Bassam, co-founder of Celestia and Chairman of the Celestia Foundation
