Avail raises $75 million in funding to support highly secure Rollup interoperability and data availability

Avail is a modular blockchain solution that aims to unify Web3 and optimize data availability for scalable and customized applications. Today, Avail raised $43 million in an oversubscribed Series A round, which, combined with $32 million raised in pre-seed and seed rounds, brings Avail’s total funding to $75 million.

Venture investors participating in this round 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, Spark Digital Capital, and several angel investors.

This round of funding will be used to develop a unified layer that solves the scalability and fragmentation problems of Web3, providing users with a secure, cost-effective and friendly blockchain experience.

The Series A funding will further accelerate Avail's mission to solve scalable data availability, interoperability and Rollup fragmentation problems through a unified layer. This is a cutting-edge modular technology stack that combines data availability, aggregation and shared security to enable modular blockchains to scale and interoperate permissionlessly and securely.

"This Series A funding marks a pivotal moment for Avail as we work to build a permissionless unified layer for Web3," said Anurag Arjun, co-founder of Avail. "With this new funding, we will accelerate development, expand our global impact, and continue to address the most critical challenges currently facing Web3, such as blockchain fragmentation, insufficient data availability, and limited scalability. In addition, this will help promote collaboration and cooperation with other participants in the entire Web3 ecosystem, which is critical to Avail's success."

Avail DA provides developers with a decentralized infrastructure that enables them to quickly build and scale modern blockchain applications. The greatest value of creating a new Rollup instead of creating a separate L1 is the ability to inherit the security of the base layer.

In order for Avail to become the unifying layer for Web3, it needs to be extremely secure. To achieve this, Avail will expand Restaking to cover multiple assets such as BTC and ETH, providing ample security for thousands of Rollups.

“Avail has made data availability, a historically costly problem for blockchains, much cheaper and more efficient with its innovative, custom approach. Their DA solution, coupled with the Nexus interoperability layer and Fusion security layer, makes it very easy for teams to leverage Avail’s technology stack to create new protocols. Not only is the solution extremely scalable and inexpensive, but importantly, it is also a very robust security option. We are proud to support Anurag, Prabal, and the great team at Avail as they build this critical infrastructure for cryptocurrencies,” said Joey Krug, Partner at Founders Fund.

Next in the Avail Unified Layer roadmap is Avail Nexus, which solves the cross-Rollup interoperability problem. This unifying layer is a zero-knowledge coordination Rollup built on Avail DA that acts as a validation hub to unify multiple Rollups to address blockchain fragmentation. Avail Nexus will create a seamless experience for users by abstracting the number of chains, regardless of how many Rollups they interact with or which ecosystem those Rollups are built on.

“The potential of Web3 is huge, and Avail is at the forefront of making this new paradigm accessible and practical,” said Haseeb Qureshi, Managing Partner at Dragonfly. “We are excited to support Avail as it continues to push the boundaries of what is possible in this space.”

The Series A round will also support the development of Fusion Security, a new way to ensure unified and shared security across the Avail ecosystem. By leveraging native assets from established ecosystems and new Rollup tokens, Fusion Security aims to provide strong cryptoeconomic guarantees, strengthening Avail’s capabilities as the unifying layer for Web3.

Avail has achieved major milestones in its incentivized testnet “Clash of Nodes” ahead of its mainnet launch in the coming weeks, with 310 validators at its peak, nearly 110,000 accounts created, and 116 million transactions processed.

“Avail combines an interesting combination of technologies, using mature infrastructure like Substrate, as well as state-of-the-art data availability sampling and zero-knowledge proof schemes,” said Walt Smith, an investor at Cyber Fund. “We believe it has the potential to be a promising technology among different blockchain technologies.”

By providing a scalable data availability layer, a unified cross-chain coordination hub, and high shared native token economic security, Avail is helping to enable a connected and user-friendly decentralized future.

About Avail

Led by former Polygon co-founder Anurag Arjun, Avail is building a unified layer that solves the massive Rollup fragmentation problem. Avail is solving blockchain scalability issues from first principles with Avail DA, a foundational DA layer that implements the same technologies planned for Ethereum’s danksharding roadmap, including KZG commitments and Data Availability Sampling (DAS). Avail Nexus solves the growing fragmentation problem by leveraging proof aggregation on Avail’s scalable DA layer for permissionless interoperability. It is then reinforced with multi-asset staking with Avail Fusion.

For more information, please visit: https://www.availproject.org/

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