Layer 2 developer Eclipse Labs has raised a $50 million Series A funding round co-led by Placeholder and Hack VC, bringing the total capital raised to $65 million.

The funding round saw participation from other investors including Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital. Additional strategic contributions came from Flow Traders, GSR, Apollo Global Management, and OKX Ventures. The firm did not disclose its latest valuation.

This freshly raised capital will be used by the project to develop an Ethereum Layer-2 solution using the Solana Virtual Machine (SVM). By integrating the high performance of the SVM with Ethereum’s liquidity, Eclipse aims to offer a differentiated Layer 2 solution.

“Eclipse integrates the high-performance SVM with the deep pools of …