Celestia Raises $100M Led by Bain Capital Crypto for Modular Ecosystem
Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...
Celestia Foundation announced the raise of $100 million in a funding round to support the growth of its modular blockchain ecosystem.
According to a press release published by Celestia Foundation, Bain Capital Crypto led the funding, with other participating investors from Syncracy Capital, 1kx, Robot Ventures, and Placeholder.
The statement indicated that Celestia’s modular design separates consensus and data availability from execution layers, enabling developers to build more flexible applications. This approach addresses some of the scalability challenges seen in traditional blockchains.
Since the launch of Celestia’s Mainnet Beta in October 2023, the network has seen over 20 rollup chains deployed, utilizing Celestia’s data blobs.
Announcing $100M in new fundraising, bringing the total raised to $155M.
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These data blobs have recently surpassed half of the total data published by rollups, suggesting growing adoption of the network’s infrastructure.
“When Celestia launched last year as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era,” said Celestia co-founder and Celestia Foundation Chairman Mustafa Al-Bassam.
The foundation has also outlined a plan to increase data throughput by expanding block sizes to 1 gigabyte. The upgrade is expected to greatly boost data availability capacity, providing the infrastructure to support more
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