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Celestia Foundation, the Liechtenstein-based non-profit organization helping to build Celestia, has raised $100 million from major crypto-focused venture capital firms, led by Bain Capital Crypto.
<a href="https://blog.celestia.org/celestia-foundation-raise/" target="_blank" rel="noopener noreferrer nofollow">Announced</a> on Sept. 23, this fundraising brings the total amount raised for the Celestia (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/celestia/">TIA</a>) project to $155 million so far. The team behind the modular data availability blockchain network secured $55 million in October 2022 ahead of the project’s launch.
Bain Capital and Polychain Capital co-led that fundraising.
This latest capital injection attracted the participation of Syncracy Capital, Robot Ventures, 1kx, and Placeholder, among other VC firms and investors.
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<h2 class="wp-block-heading" id="celestia-s-recent-technical-roadmap">Celestia’s recent technical roadmap</h2>
The Celestia Foundation is looking to bolster Celestia developers as they bring high-throughput applications to the network. Notably, the $100 million raise comes on the back of Celestia’s core developer community <a href="https://blog.celestia.org/roadmap/" target="_blank" rel="noopener noreferrer nofollow">announcing</a> the project’s technical roadmap.
Scalability is a key focus, with developers aiming to increase the modular consensus network’s throughput to rival Visa’s roughly 24,000 transactions per second. According to the technical roadmap, achieving 1 gigabyte blocks will put Celestia on the path to this goal.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “When Celestia launched last year as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era,”
 Mustafa Al-Bassam, co-founder of Celestia.
</blockquote>
Al-Bassam also noted that the new roadmap goes beyond just scaling blockspace further. It is also focused on ensuring verifiability and low latency.
Celestia <a rel="noopener noreferrer nofollow" href="https://crypto.news/celestia-releases-mainnet-beta-with-580000-users-receiving-airdrop/">launched its mainnet beta</a> in October 2023 and has seen notable developments since, including the deployment of rollup chains and Blobstream, which allows for the streaming of Celestia’s data availability layer to Ethereum (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ethereum/">ETH</a>).
The platform also <a rel="noopener noreferrer nofollow" href="https://crypto.news/celestia-collaborates-with-polygon-cdk-for-data-availability-layer-integration/">partnered with Polygon Labs</a> to integrate the DA layer with the Polygon Chain Development Kit.
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Celestia Foundation secures $100m in new fundraising

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