Eclipse Labs Raises $50 Million in Series A Funding for Ethereum Layer-2 Solution
Layer 2 developer Eclipse Labs has secured a $50 million Series A funding round, bringing its total capital raised to $65 million. The funding was co-led by Placeholder and Hack VC, with participation from 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 plans to use the newly raised capital to develop an Ethereum Layer-2 solution using the Solana Virtual Machine (SVM). By integrating the performance of SVM with Ethereum’s liquidity, Eclipse aims to offer a unique Layer 2 solution.
Funding Round Details
- Eclipse Labs raised $50 million in a Series A funding round.
- The round was co-led by Placeholder and Hack VC.
- Other investors included Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital.
- Strategic contributions came from Flow Traders, GSR, Apollo Global Management, and OKX Ventures.
- The company did not disclose its latest valuation.
Ethereum Layer-2 Solution Using Solana Virtual Machine
Eclipse Labs plans to develop an Ethereum Layer-2 solution by leveraging the Solana Virtual Machine (SVM). This integration will allow the company to combine the high performance of SVM with Ethereum’s liquidity. The goal is to provide a differentiated Layer 2 solution for Ethereum.
Main Features of Eclipse Labs’ Network
- The focus of Eclipse Labs’ network is to create a highly composable Ethereum Layer 2 chain.
- The team aims to develop a single, scalable, and composable Layer 2 solution capable of handling 99% of use cases for Ethereum.
Mainnet Release and Collaborations
Eclipse Labs plans to launch its final mainnet release in the second quarter of this year. The company has already rolled out devnet and testnet versions of its protocol. Additionally, Eclipse Labs is collaborating with prominent decentralized applications (dapps) such as Rarible, Pyth Network, and Solend for the mainnet launch.
Hot Take: Transforming Ethereum’s Scalability
Eclipse Labs’ successful Series A funding round brings the company closer to realizing its vision of transforming Ethereum’s scalability through its Layer-2 solution. By integrating the high performance of the Solana Virtual Machine with Ethereum’s liquidity, Eclipse aims to offer a differentiated and highly composable Layer 2 chain that can handle a majority of use cases on the Ethereum network. With collaborations with notable dapps, Eclipse Labs is poised to make a significant impact in the blockchain industry.
By
By
By
By