Celestia Foundation Raises $100M, TIA Up 14% to $6.30

Sep 23, 2024, 10:13 PM

Celestia Foundation, the team behind the Celestia blockchain data-availability project, announced on Monday that it has raised $100 million in a new funding round. The round was led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, and Placeholder, among others. This latest injection of capital brings the total amount raised by Celestia to $155 million. The funding will be used to further develop Celestia's modular blockchain technology, which aims to enhance scalability by separating consensus and data availability. Celestia's Mainnet Beta launched in October 2023, and developers have already deployed the first 20 applications. Following the announcement, the price of Celestia's native token, TIA, surged by 14%, reaching $6.30.