Eclipse Labs Raises $50M for Blockchain Scaling Solution Ahead of Mainnet Launch
Eclipse Labs, a multilayered blockchain builder, has raised $50 million in funding to fuel the launch of its solution for scaling the Ethereum network.
The announcement was made on March 11 via the X (formerly Twitter) handle, just weeks before the mainnet launch.
Eclipse Labs offers a flexible Layer-2 solution (rollup) for blockchain developers. It lets them choose from different virtual machines, like Sealevel, to build custom blockchains that benefit from the security of established networks like Ethereum and Polygon.
Last month, they launched the Sealevel virtual machine (SVM) Layer 2 blockchain for Polygon to ease migration from Solana to Polygon.
This newly funded release will emulate the Polygon SVM but with a focus on Ethereum, leveraging a blend of modern technologies from established blockchains. The multi-layered blend will combine Ethereum, Solana, Celestia, and RISC Zero elements.
The ultimate goal is to achieve faster transaction speeds on Solana without compromising Ethereum’s security.
Regarding the potential impact on both ecosystems, Neel Somani, CEO of Eclipse Labs, stated that the solution will be a “net additive for both ecosystems.”
He emphasized this significance, stating that from an ETH perspective, the development is an important way for Ethereum to scale.
“For Solana, we’re bringing more people into the Solana Virtual Machine,” he said.
In December 2023, Eclipse launched the test net with the intention of prioritizing developers. Opening the mainnet to developers in the coming weeks gives them a platform to build applications that benefit from the project’s architecture.
Eclipse Testnet is live.
This marks a significant step towards bringing the Solana Virtual Machine (SVM) to Ethereum L2.
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