TLDR:
- Avail raises $43 million in Series A funding round to expand data availability and rollup interoperability
- Funding will be used to solve scalable data availability issues, develop Fusion Security, and support the Nexus unification layer
Blockchain data-availability project Avail has secured $43 million in Series A funding, with participation from Founders Fund, DragonFly Capital, Cyber Fund, and more. This funding round follows the $32 million raised in pre-seed and seed rounds, bringing the total fundraising to $75 million. The funding will be utilized to address Avail’s data availability challenges, enhance rollup interoperability, and introduce Fusion Security.
The development of Fusion Security aims to provide unified security across the Avail ecosystem, reinforcing its function as the unification layer for Web3. This funding will also support the growth of Avail’s global presence and facilitate partnerships within the Web3 ecosystem. Avail, founded by Anurag Arjun and Prabal Banerjee, aims to provide a robust data availability platform for trustless applications.
Avail’s data availability layer, Avail DA, offers decentralized infrastructure for blockchain developers. The platform’s goal is to become the unification layer for Web3 by providing high security, which will be achieved through extending re-staking to include multiple assets like bitcoin and ethereum. Avail has made significant progress, with its Goldberg testnet processing over 100 million transactions in preparation for a mainnet launch.
