Celestia Basis, the crew behind the Celestia blockchain community, mentioned Monday that it has raised $100 in a fundraising spherical led by Bain Capital Crypto.
The information comes as as Celestia’s native token, TIA, is down 54% for the reason that starting of 2024, based on CoinMarketCap. Celestia had one of many hottest airdrops of 2023, issuing TIA to 580,000 of its customers.
The contemporary spherical of capital signifies that the muse has a complete of $155 million in funds, and noticed participation from Syncracy Capital, 1kx, Robotic Ventures, Placeholder. The crew didn’t element what the brand new capital shall be used for however highlighted that core builders are targeted on its new roadmap unveiled earlier this month.
“When Celestia launched final 12 months as the primary modular knowledge availability layer, it scaled blockspace from the dial-up period to the broadband period,” mentioned Mustafa Al-Bassam, co-founder of Celestia, in a weblog put up shared with CoinDesk. “Now, the core builders have launched the technical roadmap to scale blockspace to the fiber optic period – whereas retaining it verifiable and low latency.”
Celestia is a part of a rising area of modular blockchains, aimed to resolve scalability points with options that improve the velocity or execution of transactions. It’s also a supplier of knowledge availability, which is pitched as a less expensive various to storing knowledge on layer-1 blockchains like Ethereum.
Learn extra: Celestia’s TIA Token Surges 25%, Leaves Crypto Merchants in Disbelief
