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 Web3 scalability and fragmentation issues, providing blockchain users with a secure, cost-effective, and user-friendly blockchain experience.
Avail recently announced the oversubscribed Series A funding round, raising $43 million, in addition to the $32 million previously raised in the pre-seed and seed rounds, bringing the total funding to $75 million.
Avail is a modular blockchain solution aimed at unifying Web3 and optimizing the data availability (DA) of scalable and customizable applications. Notable venture capital firms, including Founders Fund, DragonFly Capital, and Cyber Fund, participated in the Series A funding, along with institutions such 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, along with numerous 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 without permission.
Anurag Arjun, co-founder of Avail, stated that 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 L1 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 collateral and include various assets such as BTC and ETH to provide sufficient security for thousands of rollups.
Joey Krug, partner at Founders Fund, stated, “Avail, with its innovative custom approach, makes data availability (a historically costly problem in blockchain) cheaper and more efficient. Their DA solution, combined with the Nexus interoperability layer and Fusion security layer, allows teams to seamlessly and easily leverage Avail’s technology stack to create new protocols across all crypto classes. Their solution is not only incredibly scalable and cost-effective but also a very powerful security option for teams to build with. We are proud to support Anurag, Prabal, and the first-class Avail team in building this critical crypto infrastructure.”
The next goal on Avail’s unification layer roadmap is Avail Nexus, which addresses cross-rollup interoperability issues. This unification layer, built on Avail DA, constructs a zero-knowledge coordinated rollup that serves as a verification hub to unify multiple rollups and solve blockchain fragmentation issues, such as liquidity islands. Avail Nexus creates a seamless user experience regardless of the number of rollups it interacts with or the ecosystem it is built on through the use of abstract chains.
Haseeb Qureshi, managing partner at Dragonfly, said, “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 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 unity and shared security of the entire Avail ecosystem. By leveraging native assets of mature ecosystems and new rollup tokens, Fusion Security aims to provide robust cryptographic economic security, enhancing Avail’s capabilities as the Web3 unification layer.
It is worth mentioning that Avail is set to launch in the coming weeks. Prior to the launch, Avail achieved a significant milestone in its incentivized testnet “Clash of Nodes,” with 310 validators at its peak, creating nearly 110,000 accounts and processing 116 million transactions.
Walt Smith, investor at Cyber Fund, noted, “Avail combines an interesting technology stack, using existing mature infrastructure like Substrate, along with cutting-edge data availability sampling and zero-knowledge proof solutions. 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 fragmentation issues of large-scale rollups. Avail tackles the scalability problem of blockchain from first principles through Avail DA, a foundational DA layer that utilizes the same techniques proposed in the Ethereum danksharding roadmap, including KZG polynomial commitments and data availability sampling (DAS).
Avail Nexus addresses the increasingly severe fragmentation problem by leveraging proof aggregation on Avail’s scalable DA layer, enabling permissionless interoperability. Avail further strengthens its security through Avail Fusion, which enhances the security of the entire Avail ecosystem through multi-asset collateralization.
Official website: https://www.availproject.org/
Twitter: https://x.com/AvailProject
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Modular Blockchain: What Is It? Differences from Monolithic Chains, Technical Pros and Cons, Potential Contenders like Celestia and AltLayer.