The Celestia Foundation, the team behind the Celestia blockchain network, has raised $100 million in a fundraising round led by Bain Capital Crypto. This brings the total funds of the foundation to $155 million. The Celestia native token, TIA, has seen a 54% decline since the beginning of 2024. The new capital will be used to support the development of Celestia's new roadmap. Celestia aims to scale blockspace to the fiber optic era while maintaining verifiability and low latency. It is part of a growing field of modular blockchains that aim to solve scalability issues and provide data availability as a cheaper alternative to layer-1 blockchains like Ethereum.



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