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Avail Announces $75M Funding Raise for Web3 Infrastructure

Jun 4, 2024

Avail, a key player in the Web3 infrastructure sector, recently secured a substantial $75 million funding round from prominent investors, including Founders Fund, Cyber Capital, and Dragonfly Capital. The funding, particularly the $43 million from the Series A round, is earmarked for tackling issues related to interoperability, scalability, and security within the Web3 realm. Avail's primary focus lies in the development of a Data Availability (DA) solution aligned with Ethereum's Danksharding roadmap. This solution has already exhibited promising outcomes, handling over 140GB of data and more than 118 million transactions on its incentive-driven testnet. The capital infusion from the Series A round will accelerate the enhancement of Avail's Unification Layer and the launch of Avail DA on the Mainnet. This layer aims to create a seamless framework facilitating collaborative interactions among diverse blockchain ecosystems. Anurag Arjun, the visionary behind Avail, underlined the necessity of enabling scalable rollups to interact seamlessly for cross-rollup transactions. The fundamental components of Avail's Unification Layer, notably Avail DA, seek to elevate blockchain interoperability through validity proofs and Data Availability Sampling (DAS). Utilizing this pioneering approach, individuals can verify data availability swiftly without the need for a complete node. With Avail Nexus serving as a pivotal cross-chain coordination hub, liquidity and user connections are optimized, streamlining asset transfers across various chains. Avail is reinforcing blockchain security by introducing Avail Fusion, a collaborative security layer that provides robust crypto-economic security by supporting restaking for assets like ETH and BTC. Avail's Unification Layer is geared towards enhancing the experiences of both blockchain developers and consumers. Developers can effortlessly craft customized blockchains using any technology with minimal code and leverage the functionalities of Avail DA. Nexus ensures seamless asset transfers between chains, enhancing transactional experiences for users. Furthermore, Avail has unveiled the commencement of Phase 2 for the $AVAIL airdrop, offering participants an opportunity to acquire complimentary tokens.

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