September 23, 2024
The Celestia Foundation has announced a $100 million funding round led by Bain Capital Crypto, with contributions from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and others, bringing their total funding to $155 million.
In October 2023, Celestia launched its Mainnet Beta, introducing the first specialized modular consensus and data network in the industry. Since then, an early ecosystem has emerged, with developers launching the first 20 rollup chains and Celestia data blobs now accounting for over half of the data published by rollups.
Project | Latest Raise | Latest Raise Date | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|
Celestia | $100M | September 23, 2024 | $155M | Bain Capital Crypto | Infrastructure |
Traditionally, scaling permissionless blockchains involved optimizing a monolithic L1, where applications operated on a single shared execution layer. Celestia, however, bypasses execution layer constraints, allowing for scalability beyond current monolithic limits. Developers are free to use any smart contract language, virtual machine, or rollup framework.
About Celestia
Celestia is a modular data availability network designed to make it easy for anyone to launch their own blockchain. Unlike traditional blockchains, Celestia separates the consensus and data availability layers, allowing for greater scalability and flexibility. This means you can deploy a blockchain as easily as a smart contract, using leading Ethereum rollup frameworks or transforming nearly any virtual machine into your own sovereign chain. Celestia’s architecture ensures that it can securely scale with the number of users, making it a robust solution for building and deploying customized blockchains.
Website: https://celestia.org/
About Investor
Investor: Bain Capital Crypto
Bain Capital Crypto is a purpose-built investment platform that supports crypto and Web3 builders from seed to growth stages. Emerging from Bain Capital Ventures, which has actively invested in crypto space since 2015, this dedicated team consists of hackers, tinkerers, and builders. They approach projects with a deeply technical and collaborative mindset. Their mission is to back renegades and pioneers building the next generation of open internet infrastructure.
Location: Boston, MA
Website: https://baincapitalcrypto.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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