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 Avail’s total funding 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 well-known 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 some angel investors.
The Series A funding will further accelerate Avail’s mission to address key challenges faced by Web3 today, such as blockchain fragmentation, limited data availability, and scalability issues. Avail aims to achieve this by providing a unified layer that solves the problems of scalable data availability, interoperability, and rollup fragmentation. This cutting-edge modular technology stack combines data availability, aggregation, and shared security to enable modular blockchains to scale and interoperate without permission and with enhanced security.
“This Series A funding marks an important 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 look forward to accelerating development, expanding our global presence, and continuing to address the most crucial challenges faced by Web3 today, such as blockchain fragmentation, limited data availability, and scalability constraints. Additionally, it will also help facilitate collaboration with other stakeholders in the entire Web3 ecosystem, which is key to Avail’s success.”
Avail DA provides developers with decentralized infrastructure to rapidly build and scale modern blockchain applications. The primary value proposition of launching new rollups instead of creating separate L1s is the ability to inherit security from the underlying layer. To become the unified layer for Web3, Avail needs to be extremely secure. To achieve this goal, Avail will expand its re-staking to include various assets such as BTC and ETH, providing ample security for thousands of rollups.
“Avail, through its innovative and customized approach, makes data availability – historically an expensive problem for blockchains – cheaper and more efficient. Their DA solution, combined with the Nexus interoperability layer and Fusion security layer, allows 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 also offers a strong choice in terms of security. We are proud to support Anurag, Prabal, and the outstanding team at Avail 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, serving as a verification hub that unifies multiple rollups and solves blockchain fragmentation issues such as 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 thrilled to support Avail as they continue pushing the boundaries of what’s 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, bolstering Avail’s role as the unified layer for Web3.
Recently, Avail achieved a significant milestone with its incentive testnet “Clash of Nodes,” which saw a peak of 310 validators creating nearly 110,000 accounts and processing a total transaction volume of 116 million before the upcoming mainnet launch in a few weeks.
“Avail combines interesting technology, utilizing mature infrastructures like Substrate, and cutting-edge data availability sampling and zero-knowledge proof solutions,” said Walt Smith, Investor at Cyber Fund. “We believe it has the potential to be a promising technology that spans different blockchain technologies.”
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 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 that addresses the problem of widespread rollup fragmentation. Avail fundamentally solves the scalability problem of blockchain by utilizing the Avail DA, a foundational data availability layer, implementing the same technology outlined in the Ethereum’s danksharding roadmap, including KZG Commitments and Data Availability Sampling (DAS). Avail Nexus solves the increasingly severe fragmentation problem by proof aggregation on top of Avail’s scalable DA layer, providing permissionless interoperability. Subsequently, the security of Avail is strengthened through multi-asset staking with Avail Fusion.