# Celestia Foundation Raises $100M

*Author: David Christopher*
*Published: Sep 24, 2024*
*Source: https://www.bankless.com/de/celestia-foundation-raises-100m*

---

Yesterday, the Celestia Foundation announced it had raised $100M in a new funding round led by Bain Capital Crypto.

## What's the Scoop?  
- **Lead Investors: **The round was led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, and Placeholder, whose [Chris Burniske](https://x.com/cburniske/status/1838293703808741539) has been an avid TIA bull on the timeline.  
- **Technology: **Celestia's "[data availability sampling](https://www.theblock.co/post/317768/celestia-foundation-raises-100-million-in-a-round-led-by-bain-capital-crypto)" tech is critical for scaling, allowing users to verify large blocks without downloading all the data, with developers planning to scale Celestia to 1 gigabyte blocks.
- **Adoption:** Over two dozen rollups have been deployed on the network since its launch.

## Bankless Take:  
After nearly round-tripping its 10x gains from the initial airdrop launch, Celestia looks to be so back as its raise coincides with a resurgence in alts. Despite its minimal revenue, modularity and DA remain central to scaling discussions, with Celestia as a frontrunner in this vertical, most closely rivaled by the tokenless EigenDA. It still does have tremendous unlocks arriving in late October, [which will add 82%](https://token.unlocks.app/celestia) to the circulating supply. Despite this, TIA surged as much as 25% yesterday, though it has since settled, currently up ~7%.