{"id":68866,"date":"2022-10-20T12:48:02","date_gmt":"2022-10-20T09:48:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68866"},"modified":"2025-09-07T16:40:05","modified_gmt":"2025-09-07T13:40:05","slug":"celestia-project-raises-55-million-to-launch-modular-blockchains","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/celestia-project-raises-55-million-to-launch-modular-blockchains\/","title":{"rendered":"Celestia project raises $55 million to launch &#8216;modular blockchains&#8217;"},"content":{"rendered":"<p>The Celestia Foundation, the driver behind the project of the same name, raised $55 million in a round led by Bain Capital Crypto and Polychain Capital.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Today, we announce our $55M raise to launch a modular blockchain network so that anyone in the world can easily deploy their own blockchain.<a href=\"https:\/\/t.co\/t2FphHuMAN\">https:\/\/t.co\/t2FphHuMAN<\/a><\/p>\n<p>\u2014 Celestia (@CelestiaOrg) <a href=\"https:\/\/twitter.com\/CelestiaOrg\/status\/1582771528763965440?ref_src=twsrc%5Etfw\">October 19, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among the participants were Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, Jump Crypto and several angels, including Balaji Srinivasan and Eric Wall.<\/p>\n<p>Celestia provides clients with a modular architecture for deploying and scaling blockchains.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThese specialized networks are less constrained and break monolithic chains into flexible components, promising greater scalability, security and decentralisation,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>According to Celestia co-founder Mustafa Al-Bassam, modular blockchains will be \u201cdefining the next decade <a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\">Web3<\/a>-innovations\u201d.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe crypto industry had previously been boxed into narrow constraints due to the endless stream of new L1 platforms of smart contracts, each sacrificing decentralisation and security to deliver cheaper transactions. Web3 cannot scale within the constrained bounds of a monolithic structure,\u201d he said.<\/p>\n<\/blockquote>\n<p>In May the platform launched the Mamaki testnet and unveiled an API for modular blockchain developers.<\/p>\n<p>To date, Celestia supports 26 projects under the Modular Fellows programme, which provides mentoring. The solutions span various corners of the crypto industry, including technologies based on <a href=\"https:\/\/forklog.com\/en\/news\/looking-ahead-with-optimism-how-rollups-solve-ethereums-scaling-challenge\">Rollups<\/a>, DeFi applications and much more.<\/p>\n<p>Earlier, the sharding-focused blockchain startup Shardeum <a href=\"https:\/\/forklog.com\/en\/news\/wazirx-founders-project-raises-18-2m-in-seed-round\">raised $18.2 million<\/a> in seed funding at a valuation of $199 million.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Celestia Foundation, the driver behind the project of the same name, raised $55 million in a round led by Bain Capital Crypto and Polychain Capital.<\/p>\n","protected":false},"author":1,"featured_media":68867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1260,1133],"class_list":["post-68866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celestia","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=68866"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68866\/revisions"}],"predecessor-version":[{"id":68868,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68866\/revisions\/68868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68867"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}