Layer 2 developer Eclipse Labs completes $50 million in Series A financing, led by Placeholder and Hack VC

Layer 2 developer Eclipse Labs has completed a $50 million Series A funding round, led by Placeholder and Hack VC, raising a total of $65 million. Other investors in this round include Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital. Other strategic contributions come from Flow Traders, GSR, Apollo Global Management, and OKX Ventures. The company has not disclosed its latest valuation. The project will use this newly raised capital to develop an Ethereum Layer 2 solution using the Solana virtual machine (SVM). By combining the high performance of SVM with Ethereum's liquidity, Eclipse aims to provide a differentiated Layer 2 solution. The team aims to launch the final mainnet version in the second quarter of this year. It has already launched development and testnet versions of its protocol and plans to deploy famous dapps including collaborations with Rarible, Pyth Network, and Solend when the mainnet launches.