TechFlow News, Layer 2 developer Eclipse Labs has raised $50 million in a Series A round co-led by Placeholder and Hack VC, bringing its total funding to $65 million. Other investors in this round include Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital. Strategic contributions also came from Flow Traders, GSR, Apollo Global Management, and OKX Ventures. The company did not disclose its latest valuation.
The project will use the newly raised funds to develop an Ethereum Layer 2 solution leveraging the Solana Virtual Machine (SVM). By combining SVM's high performance with Ethereum's liquidity, Eclipse aims to deliver a differentiated Layer 2 offering.
The team plans to launch the final mainnet version in the second quarter of this year. It has already launched development and testnet versions of its protocol, and intends to deploy prominent dapps at mainnet launch, including partnerships with Rarible, Pyth Network, and Solend.
