Avail adds Cyber Fund alongside other notable VCs to Series A funding round to accelerate its highly secure rollup interoperability and scalability solution.
Avail has raised a total of $75M from prominent investors including Peter Thiel’s Founders Fund, Dragonfly Capital, Cyber Capital and other notable VCs and angel investors to address the problems facing rollup interoperability, scalability and security. Avail will use the recently raised $43M Series A to build the unification layer for web3.
As rollups proliferate throughout web3, infrastructure related challenges are emerging that require immediate attention. Rollups need Data Availability (DA) to scale and Avail has been working on an unparalleled solution to do just this since 2020.
Having implemented the same technology earmarked in Ethereum’s Danksharding roadmap, Avail DA is set to launch in the coming weeks, showcasing impressive performance in its recent incentivized testnet. Avail DA processed over 118 million transactions and facilitated more than 140GB of data submissions, which is very close to the total data submissions of all L2s in 2023.
Once developers have access to an abundance of Data Availability blobspace on Avail DA, their rollups can scale exponentially. However the question of how rollups interoperate still needs to be addressed, and for this, Avail has a unique solution which utilizes Avail DA’s core features.
“We need a way for rollups to scale & come together permissionlessly so that cross-rollup transactions can connect seamlessly.”
Anurag Arjun, Avail Founder
An initiative which began inside Polygon Labs has gone on to become a full-fledged independent entity, led by former Polygon Founder Anurag Arjun and Research Lead Prabal Banerjee. Leveraging years of experience building blockchain infrastructure and adopting cutting edge ZK technologies, Avail has taken a unique approach to addressing the problems facing rollup scalability, interoperability and security.
“We need to accept the fact that many ecosystems will co-exist and they need to talk to each other. We can build a more cohesive solution for developers and users by addressing this from first principles.”
Prabal Banerjee, Avail Founder
Avail DA is the first of 3 core modules that will together make up Avail’s Unification Layer. While many approaches have been taken to scale DA, Avail’s approach is unique, setting a foundation for wider blockchain interoperability via validity proofs and Data Availability Sampling (DAS). This enables anyone to verify DA guarantees without reliance on a full-node in under a minute. Avail Nexus builds on this unique characteristic to form a cross-chain coordination hub that connects users and liquidity like never before.
To provide the unification hub with extremely strong crypto-economic security, Avail is building a solution that will unify the blockchain ecosystem even further. By extending restaking to include multiple assets like ETH, BTC and others, Avail is laying the groundwork for an innovative shared security layer. Rollups built with Avail will benefit from the additive crypto-economic security of Avail Fusion, a shared security layer protected by a basket of crypto-assets.
Every part of Avail’s Unification Layer has been designed to enhance the experience of blockchain developers and users everywhere. Developers are free to choose whichever technologies they like, and can build custom blockchains for their specific use cases. They still inherit all of Avail DA’s core features with just a few lines of code. Blockchain users on the other hand, get to experience bridgeless transactions as the complexity of moving assets across chains is managed by Nexus.
With the Series A round now complete and Avail’s Unification Drop announced, the next major milestone is to launch Avail DA on Mainnet.
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Avail received an initial $5M in pre-seed funding followed by a $27M seed round and $43M series A participation from prominent venture capital forms Founders Fund, DragonFly Capital, Cyber Fund and other notable VC’s including 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 alongside a number of angel investors.
