Celestia Foundation Raises $100 Million in Funding Led by Bain Capital

The Celestia Foundation has secured $100 million in a funding round. The investment includes investment from Bain Capital.
The round was led by Syncracy Capital, 1kx and Robot Ventures.
The round was funded by Investors Ledger Ventures, Placeholder and others, totaling $155 million.
The startup aims to solve one of the main challenges for blockchain networks: scalability and data availability.
Celestia's architecture, which will be released in 2023, separates the consensus and data availability layer from the execution layer, making it more flexible than traditional monolithic chains like Ethereum.
Compared to traditional blockchains, it allows developers more flexibility in creating Layer 2 rollups. Traditional blockchains, like Ethereum, share data, transactions, and security.
Separating these functions allows developers to create more specialized blockchains.
This can reduce congestion, lower costs, and make blockchain-based services more efficient and scalable.
Celestia unveils roadmap in early September to increase data throughput for rollup ecosystem
The upgrade will allow Celestia's network capacity to exceed Visa's throughput, and will boost the number of users every year.
The company explained that the blockchain will be able to process more transactions per second. Meanwhile, Celestia has steadily gained market share from Ethereum since May, dropping from about 20% to 1.2% in July.
At the end it reached 40%.