Avail, a modular blockchain solution aimed at unifying Web3 and optimizing data availability (DA) for scalable and customizable applications, has raised $43 million in an oversubscribed Series A funding round. This brings the total funding for Avail to $75 million, including $32 million raised in pre-seed and seed rounds.
Notable venture capital firms such as Founders Fund, DragonFly Capital, Cyber Fund, and other renowned VCs participated in the Series A funding, along with SevenX, Figment, Nomad Capital, LocalGlobe, Altos Ventures, Chapter One, Superscrypt, Foresight Ventures, Mirana Ventures, KR1, RW3 Ventures, Alliance Dao, Hashkey, Elixir Capital, Spark Digital Capital, and several angel investors.
The Series A funding will further accelerate Avail’s mission to address the key challenges of blockchain fragmentation, data availability, and limited scalability by providing a unified layer that combines scalability, interoperability, and rollup fragmentation solutions.
“This Series A funding marks a significant milestone for Avail as we strive to build a permissionless unified layer for Web3,” said Anurag Arjun, co-founder of Avail. “With this new capital, we aim to accelerate development, expand our global presence, and continue addressing the critical challenges of Web3, such as blockchain fragmentation, inadequate data availability, and limited scalability. Additionally, it will help facilitate collaboration with other participants in the entire Web3 ecosystem, which is crucial for Avail’s success.”
Avail DA provides developers with decentralized infrastructure to rapidly build and scale modern blockchain applications. The core value proposition of launching new rollups instead of creating separate L1s is the ability to inherit security from the underlying layer. To become a unified layer for Web3, Avail needs to be highly secure. To achieve this goal, Avail will expand its staking to include various assets such as BTC and ETH, providing ample security for thousands of rollups.
“Avail, through its innovative and customizable approach, makes data availability – historically an expensive problem for blockchains – cheaper and more efficient. Their DA solution, along with the Nexus interoperability layer and Fusion security layer, enables teams to easily and seamlessly leverage Avail’s technology stack to create new protocols across all cryptocurrency categories. Not only is their solution highly scalable and cost-effective, but it is also a very strong choice in terms of security. We are proud to support Anurag, Prabal, and Avail’s exceptional team in building this critical cryptographic infrastructure,” said Joey Krug, Partner at Founders Fund.
The next plan in Avail’s unified layer roadmap is Avail Nexus, which addresses interoperability across rollups. This unified layer is a zero-knowledge-coordinated rollup built on top of Avail DA as a verification center, unifying multiple rollups and solving blockchain fragmentation issues like isolated liquidity. Avail Nexus creates a seamless user experience by abstracting chains, regardless of how many rollups they interact with or which ecosystem they are built upon.
“The potential of Web3 is immense, and Avail is at the forefront of making this new paradigm accessible and practical in widespread applications,” noted Haseeb Qureshi, Managing Partner at Dragonfly. “We are delighted to support Avail as they continue pushing the boundaries of what is possible in this space.”
The Series A funding will also support the development of Fusion Security, a novel approach to ensuring unified and shared security within the Avail ecosystem. By leveraging native assets from mature ecosystems and new rollup tokens, Fusion Security aims to provide robust cryptographic economic guarantees, strengthening Avail’s role as a unified layer for Web3.
Recently, Avail achieved a significant milestone in its incentive testnet “Clash of Nodes,” with a peak of 310 validators creating nearly 110,000 accounts and processing a total transaction volume of 116 million transactions – shortly before the upcoming mainnet launch in a few weeks.
“Avail combines interesting technology, utilizing mature infrastructures such as Substrate, along with cutting-edge data availability sampling and zero-knowledge proof solutions,” said Walt Smith, investor at Cyber Fund. “We believe it has the potential to become a promising technology bridging different blockchain technologies.”
By providing a scalable data availability layer, a unified cross-chain coordination center, and highly shared native token economic security, Avail is contributing to the realization of a connected and user-friendly decentralized future.
For more information, please visit:
https://www.availproject.org/
About Avail:
Led by former co-founder of Polygon, Anurag Arjun, Avail is dedicated to building a unified layer to address the issue of fragmented rollups at scale. Avail fundamentally solves the problem of blockchain scalability by leveraging Avail DA, a foundational data availability layer that implements the same technology planned for Ethereum’s danksharding roadmap, including KZG Commitments and Data Availability Sampling (DAS). Avail Nexus solves the increasingly severe fragmentation problem by providing permissionless interoperability through proof aggregation on top of Avail’s scalable DA layer. Subsequently, Avail’s security is strengthened through multi-asset staking with Avail Fusion.
