web3-infrastructure-provider-avail-raises-$27m-seed-round

Web3 Infrastructure Provider Avail Raises $27M Seed Round

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Avail, a Web3 infrastructure layer designed to unify the blockchain ecosystem, announced a $27 million seed funding round. Founders Fund and Dragonfly led the round.

The company plans to use these funds to further develop its three core products — the Data Availability (DA) layer, the Nexus unification layer, and Fusion, an additive security layer. These core components — dubbed the Avail Trinity — are designed to allow modular execution layers to scale and interoperate in a trust minimized way. Ultimately, the company wants to streamline the rollup experience through a unified and efficient platform for both users and developers of any blockchain ecosystem.

“Today’s raise led by world-class VCs, Founders Fund and Dragonfly, accelerates our vision to unify the Web3 space and solve the growing pains of fragmentation,” said Anurag Arjun, cofounder of Avail. “The rollup centric future for scaling blockchains is already here… Rollup tooling will mature to such an extent that it will be as easy to deploy an app-specific rollup as it is to deploy a smart contract today. In this world of 10s and 1000s of chains, they will need to talk to each other seamlessly, otherwise this will lead to a huge user experience fragmentation issue. This is why it’s imperative to lay the groundwork for the unified future of Web3 by building a unification framework where platforms are united rather than segmented.”

Anurag Arjun and Prabal Banerjee are the cofounders of Avail.

Avail traces its roots to the Polygon ecosystem, though it officially spun off in March 2023. The company’s founders Arjun and Prabal Banerjee, formerly served as a cofounder of Polygon and its research lead respectively. 

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Avail’s mission is to streamline the rollup experience, offering a unified, efficient platform for both users and developers from any ecosystem. In time, Avail’s products will allow more efficient communication between web3 ecosystems.

“We’re thrilled to be leading an investment in Avail. Their stellar team, tech stack, and emerging ecosystem are enabling a more modular design space for projects to build on their infra. By decoupling the different layers of the blockchain, Avail unlocks orders of magnitude scalability improvements and helps solve the current fragmentation issues in the space,” said Joey Krug, partner at Founders Fund. 

Avail looks to anchor the entire Web3 ecosystem with its scalable data availability layer that harnesses validity proofs to ensure reliable and immediate data access. In turn, this will enable rollups to grow, connect, stay secure and adapt.

“We are confident in Avail’s vision of a unified Web3 ecosystem and believe that its solutions will definitely serve a wider picture in the long run via its credibly neutral, and scalable DA, security, aggregation, and interoperability layers,” said Haseeb Qureshi, managing partner at Dragonfly.

This funding will allow Avail to further develop its products. However, the company plans to raise more funds before the mainnet launch. 

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