Eclipse, a modular blockchain company, has successfully raised $50 million in Series A funding. The newly acquired funds will be used to develop Eclipse’s Ethereum Layer 2 (L2) scaling solution, which will utilize the Solana Virtual Machine (SVM). The company is also gearing up for its eagerly awaited mainnet release.
Huge Participation
The investment was led by key investors Placeholder and Hack VC, and also received contributions from Polychain Capital, Delphi Digital, and others, bringing Eclipse’s total funding to an impressive $65 million.
Eclipse’s funding round also saw participation from strategic investors including Flow Traders, GSR, Apollo Global Management, and OKX Ventures, showcasing the wide-ranging support for the project within the blockchain community. The company’s goal is to leverage this investment to further project development and ensure a smooth rollout of its mainnet, expected in the second quarter of 2024.
A Modular Approach to Blockchain Technology
Eclipse stands out in the blockchain space with its modular architecture that separates execution, settlement, consensus, and data availability into specialized layers. This approach contrasts with traditional blockchains that rely on a single set of nodes for all functionalities, aiming for enhanced efficiency and flexibility. The integration of SVM for execution, Celestia for data availability, and Ethereum for settlement and consensus, underscores Eclipse’s commitment to building a highly composable Ethereum L2 chain.
Neel Somani, the founder of Eclipse stated the following: “There are numerous theoretical solutions and funded infrastructure aimed at addressing liquidity fragmentation in the foreseeable future. However, our perspective emphasizes the abundance of readily available opportunities at the execution layer, which we aim to integrate for an enhanced user experience on Ethereum. Eclipse is designed to stand out as the most performant Layer 2.”
Anticipating the Mainnet Launch
With a devnet and testnet already in operation, Eclipse has attracted a variety of decentralized applications (dApps) to test its infrastructure, including notable names like Rarible, Pyth Network, and Solend. The upcoming mainnet launch is set to mark a new chapter for Eclipse, with plans to engage the community through hackathons, accelerators, and events.