Blockchain Startup Rome Secures $9M Funding

Blockchain Startup Rome Secures $9M Funding

Giovanna Rossi
2 min read

Rome Secures $9 Million in Funding for Blockchain Expansion

Rome, a blockchain startup, has successfully raised $9 million in funding from prominent investors like Hack VC and Polygon Ventures, signalling growing interest and investment in blockchain technology. The company's strategic focus revolves around leveraging Solana to support Ethereum layer-2 networks, with the aim of decentralizing sequencers and reducing data availability costs. Co-founded by Anil Kumar and Sattvik Kansal, Rome is positioning itself to capitalize on Solana's state machine capabilities, which they believe surpass those of other prominent chains such as Bitcoin, Cosmos, and Ethereum.

Rome's innovative approach includes the facilitation of "atomic transactions" across Ethereum layer-2 networks, ensuring complete transaction reversibility in the event of any individual component failure, ultimately minimizing user costs. The company is set to launch a closed network later this month, followed by a comprehensive test network by the end of 2024, culminating in the mainnet launch in mid-2025.

Key Takeaways

  • Rome's successful fundraising for its blockchain initiatives reflects a burgeoning interest in the intersection of Solana and Ethereum layer-2 networks.
  • The company's strategic roadmap includes the decentralization of sequencers and reduction of data availability costs.
  • The timeline for Rome's upcoming network launches includes a closed network release this month, followed by a comprehensive test network before the mainnet launch in mid-2025.
  • Rome is pioneering the facilitation of atomic transactions across Ethereum layer-2 networks, aiming to maximize user benefits.


The substantial funding received by Rome serves as an indication of the increasing investor confidence in the potential of Solana to integrate with Ethereum's layer-2 networks. This strategic alignment presents a credible challenge to Ethereum's current dominance in the blockchain space and stands to benefit Solana and its ecosystem. The short-term repercussions of this development may include heightened competition within the blockchain landscape, while the long-term implications could lead to decreased transaction costs and enhanced security measures. Rome's success could significantly influence the broader adoption of modular blockchain solutions, potentially impacting both emerging startups and traditional financial systems.

Did You Know?

  • Atomic Transactions:
    • Insight: Atomic transactions describe a set of operations executed as a single, indivisible unit. In the context of blockchain, this ensures that the entire transaction is reverted if any part fails, minimizing the risk of incomplete operations and potential financial losses.
  • Layer-2 Networks:
    • Insight: These networks are built atop existing blockchain platforms, enhancing scalability, reducing transaction fees, and improving overall performance. While they process transactions off the main blockchain (Layer-1), they still rely on it for security and finalization.
  • Modular Blockchains:
    • Insight: Designed to manage specific functions within the broader blockchain ecosystem, these specialized blockchains optimize performance by focusing on key aspects such as data availability, consensus, or execution, in distinct contrast to comprehensive platforms.

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