Modular Blockchain Solution Avail announced today that it has raised a total of $75 million in funding. The investment will support the development of its unification layer to address scalability and fragmentation issues in Web3, providing blockchain users with a secure, cost-effective, and user-friendly blockchain experience.
Avail recently raised $43 million in Series A funding through oversubscription, in addition to the $32 million it raised in pre-seed and seed rounds, bringing its total funding to $75 million.
Avail is a modular blockchain solution designed to unify Web3 and optimize data availability (DA) for scalable and customizable applications. Notable investors in the Series A funding include Founders Fund, DragonFly Capital, and Cyber Fund, as well as SevenX, Figment, Nomad Capital, LocalGlobe, Altos Ventures, Chapter One, Superscrypt, Foresight Ventures, Mirana Ventures, KR1, RW3 Ventures, Alliance Dao, Hashkey, Elixir Capital, and Spark Digital Capital, among many angel investors.
The Series A funding will further accelerate Avail’s mission to solve scalability, data availability, interoperability, and rollup fragmentation issues through its unification layer. This will enable modular blockchains to scale and interoperate securely and permissionlessly.
Anurag Arjun, Co-founder of Avail, stated: “Avail’s DA provides developers with decentralized infrastructure to quickly build and scale modern blockchain applications. The greatest value of creating new rollups instead of separate L1s is the ability to inherit security from the underlying layer.”
To make Avail the unification layer of Web3, it needs to be highly secure. To achieve this goal, Avail will expand the range of assets eligible for staking, including BTC and ETH, to provide ample security for thousands of rollups.
“Avail’s innovative customized approach makes data availability, which has historically been costly in blockchain, cheaper and more efficient. Their DA solution, combined with Nexus interoperability layer and Fusion security layer, allows teams to seamlessly and easily leverage Avail’s tech stack to create new protocols across all crypto asset classes. Their solution not only has incredible scalability and affordability but, importantly, it’s also a very strong security option for teams to build with. We are proud to support Anurag, Prabal, and the top-notch team at Avail in building this critical crypto infrastructure,” said Joey Krug, Partner at Founders Fund.
The next target on Avail’s roadmap is Avail Nexus, which addresses cross-rollup interoperability issues. This unification layer is built on Avail DA and constructs a zero-knowledge-coordinated rollup that serves as a verification center to address blockchain fragmentation problems like liquidity islands. Avail Nexus will create a seamless user experience regardless of how many rollups it interacts with or which ecosystem it is built upon.
Haseeb Qureshi, Managing Partner at Dragonfly, stated: “The potential of Web3 is enormous, and Avail is at the forefront of making this new paradigm accessible and practical. We are excited to support Avail in continuously pushing the boundaries of what’s possible in this space.”
The Series A funding will also support the development of Fusion Security, a new approach to ensuring the unified and shared security of the entire Avail ecosystem. By leveraging native assets from mature ecosystems and new rollup tokens, Fusion Security aims to provide robust cryptographic economic guarantees and enhance Avail’s functionality as the Web3 unification layer.
Notably, Avail is set to launch in the coming weeks. Prior to this, Avail achieved a significant milestone in its incentive testnet “Clash of Nodes,” with 310 validators, nearly 110,000 accounts created, and 116 million transactions processed at its peak.
Walt Smith, investor at Cyber Fund, said: “Avail combines an interesting combination of technologies, utilizing existing mature infrastructure like Substrate, as well as cutting-edge data availability sampling and zero-knowledge proof schemes. We believe it has the potential to become a framework for promising technologies in different blockchain ecosystems.”
By providing a scalable data availability layer, a unified cross-chain coordination hub, and highly shared native token economic security, Avail is helping to realize an interconnected and user-friendly decentralized future.
About Avail:
Led by former co-founder of Polygon, Anurag Arjun, Avail is building a unification layer to address the scalability issues of large-scale rollup fragmentation. Avail solves blockchain scalability from first principles through Avail DA, a foundational DA layer that utilizes the same techniques planned for Ethereum’s Danksharding roadmap, including KZG polynomial commitments and data availability sampling (DAS).
Avail Nexus tackles the increasingly severe fragmentation issue by leveraging proof aggregation on Avail’s scalable DA layer, enabling permissionless interoperability. Avail then enhances its security through Avail Fusion, a multi-asset staking mechanism.
Official Website:
https://www.availproject.org/
Twitter:
https://x.com/AvailProject