Avail, the modular blockchain platform founded by former Polygon co-founder Anurag Arjun, has announced the successful completion of a $43 million Series A funding round. The round was co-led by Peter Thiel’s Founders Fund, Dragonfly, and Cyber Fund, alongside participation from prominent investors including SevenX Ventures, Figment Capital, Nomad Capital, Chapter One, Foresight Ventures, Mirana Ventures, KR1, Alliance, and Hashkey Capital.

Total Raised $75 Million

The Series A funding was structured using a combination of a Simple Agreement for Future Equity (SAFE) and a Simple Agreement for Future Tokens (SAFT), as revealed by Arjun in a statement. This recent influx of capital follows Avail’s $27 million seed round announced in February, which also saw participation from Founders Fund, Dragonfly, SevenX, Figment, and Nomad Capital. Including a previous $5 million pre-seed round, Avail has now raised a total of $75 million.

Anurag Arjun, leveraging his experience as a former co-founder of Polygon, is steering Avail toward a future dominated by rollup infrastructure. He envisions a blockchain ecosystem with a few base layers, such as Ethereum and Avail, supporting numerous rollups. "Avail is building the infrastructure to support this rollup-centric future," Arjun stated.

Avail has Raised a Total of $75 million in Funding

Addressing Challenges in Web3

Avail is developing a comprehensive suite of products designed to address key challenges in the web3 space. This includes the Data Availability (DA) layer, the Nexus unification layer, and Fusion, an additive security layer. These components aim to enhance rollup scalability by leveraging validity proofs, which provide 10x faster guarantees on transaction finalization.

Joey Krug, partner at Founders Fund, expressed strong support for Avail's innovative approach. “Avail makes data availability — a historically costly problem for blockchains — much cheaper and more efficient with their innovative, custom-built approach. Their DA solution, paired with their Nexus interoperability layer and Fusion security layer, makes it super seamless and easy for teams to create new protocols leveraging Avail’s tech stack,” Krug said in a statement.

Avail Architecture Explained

Upcoming Mainnet and Token Launch

The announcement of this funding round comes just weeks before Avail's planned mainnet and token launches, marking a significant milestone for the platform. With substantial financial backing and a strategic focus on rollup infrastructure, Avail is poised to play a noteworthy role in the evolving blockchain landscape.