TLDR:
Avail, a blockchain technology start-up, secured $27 million in an early-stage funding round led by Founders Fund and Dragonfly Capital. The team plans to use the funds for product development, team expansion, and marketing efforts. This funding round highlights the resurgence of interest in crypto and blockchain technology.
Article Summary:
Avail, a blockchain technology start-up, recently announced that it had raised $27 million in an early-stage funding round. The funding was led by Founders Fund and Dragonfly Capital, with additional support from other venture capital entities. The team plans to use this fresh capital to develop their product, expand their team, and intensify marketing efforts. Avail specializes in enabling clients to establish their blockchain operations quickly and efficiently.
The co-founder of Avail, Anurag Arjun, emphasized the broader implications of regulatory advancements for blockchain technology innovators. The team includes former Polygon executives, and the company plans to allocate the funds towards various areas, including product development and team expansion. Arjun also highlighted the potential impact of regulatory approvals for spot Bitcoin exchange-traded funds (ETFs) on the industry, suggesting that such developments could enhance legitimacy and attract further investment into the blockchain and crypto space.
This funding round comes at a time when there is a renewed focus on blockchain technology and its implementation by traditional players. Avail’s success in securing this funding adds to the total amount of capital deployed in crypto startups, exceeding $99 billion. This funding round showcases the growing interest and investment in blockchain technology, indicating a positive outlook for the industry’s future.
