Last Updated on October 12, 2022
- Eclipse has raised $15 million in pre-seed and seed rounds to build a customisable Solana Virtual Machine (SVM).
- The $6M pre-seed round was led by Polchain with participation from Tribe Capital, Tabiya, Galileo, Polygon Ventures, and Accel.
- Tribe Capital and Tabiya co-led the $9M seed round and were joined by Infinity Ventures Crypto, Soma Capital, Struck Crypto, and CoinList among others.
Eclipse has raised $15 million in pre-seed and seed rounds to build a customisable Solana Virtual Machine (SVM) for developers. The Solana-based Layer 2 scaling protocol allows developer apps to maximise throughput whilst also allowing developers to customise their own balance of speed, decentralization, and cost.
The $6 million pre-seed round was led by Polychain with participation from Tribe Capital, Tabiya, Galileo, Polygon Ventures, and Accel. On the other hand, the $9 million seed round was co-led by Tribe Capital and Tabiya with Infinity Ventures Crypto, Soma Capital, Struck Crypto, and CoinList also joining.
Other participants in the fundraising included notable angel investors Sreeram Kannan of EigenLayer and Ryan Fang of Ankr.
Eclipse’s new product follows in the footsteps of other powerful scaling solutions launched by Polygon and Binance.
In July, Polygon launched its Ethereum Virtual Machine (EVM) compatible zero-knowledge proof-based scaling solution (zkEVM), allowing developers to create infinitely scalable apps for the web3 community.
On September 8, BNB Chain followed suit with its own scaling solution the zkBNB to give decentralised app builders infinite scaling capabilities.
Eclipse’s solution seeks to provide highly scalable solutions that allow developers to deploy their own roll-up powered by the SVM, using any chain for security or data storage.
The solution is specifically created to accommodate the mass adoption of decentralised apps as enterprises look to explore various web3 use cases.
Some of Eclipse’s notable partnerships include collaborations with Celestia, EigenLayer, Oasis Labs, Polygon, Cosmos, and NEAR.
Commenting on the fundraising, Anatoly Yakovenko, Solana co-founder and angel investor in Eclipse lauded the platform’s “potential to bring more people to the Sealevel VM.”
“Eclipse paves the path for Solana’s runtime to communicate with Cosmos chains through IBC [inter-blockchain communication].”
Niraj Pant, General Partner of Polychain Capital commented: “As major corporations and governments begin entering the blockchain space, Eclipse is essential infrastructure to facilitate their use cases, such as Web2-scale consumer and financial applications.”
Neel Somani, co-founder of Eclipse thinks that his company’s blockchain architecture provides a natural progression in the history of technology. “While web services were originally monolithic, they eventually de-coupled into microservices where you could swap out each of the pieces,” he said.
Boris Resvin, Managing Partner of Tribe Capital echoed those remarks saying: “Eclipse is building the next generation of infrastructure for the upcoming wave of decentralized applications. As a protocol, if you want throughput at scale, you should consider using Eclipse.”
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