Quick take:
- The fundraising also attracted participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and more.
- The announcement comes nearly a year after Celestia Network launched the mainnet in October 2023.
- Celestia offers a specialised modular consensus and data network that developers can use to scale permissionless blockchains.
Celestia Foundation, the organisation developing Celestia Network has announced a $100 million fundraising led by Big Brain Capital, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and more.
The fundraising brings the total raised to $155 million following a $55 million funding round raised in October 2022, the foundations said in a blog post on Monday. Big Brain Capital was also a co-lead in the Series A round alongside Polychain Capital.
The fundraising reveal comes nearly a year after Celestia launched its mainnet last October. The foundation is building a specialised modular consensus and data network that developers can use to scale permissionless blockchains.
According to the announcement, developers have since deployed the first 20 rollup chains while Celestia data blobs recently hit “more than half of total data published by rollups.”
The foundation claims its modular network overcomes challenges like execution layer overheads, which are synonymous when optimising monolithic L1 to scale permissionless blockchains.
“Developers are not confined to a single smart contract language, virtual machine, or even a rollup framework,” the foundation wrote.
The platform allows developers to “deploy high-throughput, unstoppable applications using any VM, whether to scale existing ecosystems like Ethereum or as their own sovereign networks,” the announcement reads.
Commenting on the announcement, Mustafa Al-Bassam, co-founder of Celestia and Chairman of the Celestia Foundation said in a statement: 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 fibre optic era – while keeping it verifiable and low latency.”
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