Avail, a Web3 infrastructure layer, has successfully wrapped up a seed funding round, amassing $27 million.
Spearheaded by industry giants Dragonfly Capital and Peter Thiel's Founders Fund, this financial boost marks a significant moment for Avail.
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Avail originated from Polygon Labs in 2021 and later became an independent project aiming to evolve the blockchain landscape.
As highlighted in a recent blog post by co-founder Anurag Arjun, this funding will be used to "accelerate the unification of Web3 via the Avail Trinity."
This trinity encompasses the foundational Data Availability layer, the Nexus interoperability layer, and the Fusion Security network layer, each designed to fortify the infrastructure necessary for a more integrated Web3 experience.
The central vision of the initiative is to create a modular blockchain infrastructure, a development that Joey Krug of Founders Fund praised:
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.
Avail's mission is especially relevant in the context of blockchain scaling and the growing reliance on Layer-2 rollups. Arjun noted:
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.
According to the co-founder, this development is crucial for ensuring seamless communication between the myriad of chains, thereby avoiding user experience fragmentation.
This funding round not only underscores the tech community's confidence in Avail's mission but also sets the stage for groundbreaking developments in the Web3 space.
Another large funding round was closed on February 23, with Andreessen Horowitz (a16z) investing $100 million into crypto startup EigenLayer.
