TechFlow News, the Celestia Foundation has announced the completion of a $55 million funding round led by Bain Capital Crypto and Polychain Capital, with participation from Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, Jump Crypto, Balaji Srinivasan, Eric Wall, Jutta Steiner, among others. An insider said the fundraising pushed Celestia into unicorn status with a $1 billion valuation and was oversubscribed fourfold.
Reportedly, Celestia introduces a modular blockchain architecture to address challenges in deploying and scaling blockchains. Projects such as Eclipse, Constellation, and dYmension have already chosen Celestia as their data availability layer. Celestia launched its testnet Mamaki earlier this year, introducing a new data availability API. An upgrade to Mamaki is scheduled for late October 2022.Original link
