Avail, a pioneering force in Web3’s data availability and consensus layer, has successfully concluded a $27 million seed funding round, with Founders Fund and Dragonfly leading the investment. This significant infusion of capital, which also saw participation from prominent venture capital firms like SevenX, Figment, and Nomad Capital, aims to address the industry-wide challenge of fragmentation within the Web3 ecosystem.
The allocated funds will drive the advancement of Avail’s core products, collectively known as the Avail Trinity, comprising the Data Availability (DA) layer, the Nexus unification layer, and the Fusion security layer. By enhancing these foundational elements, Avail seeks to accelerate the integration and cohesion of Web3 infrastructure, ultimately fostering greater interoperability across the ecosystem.
Joey Krug, a partner at Founders Fund, underscores the potential of Avail’s modular blockchain infrastructure to facilitate enhanced interoperability within the Web3 landscape. Meanwhile, Anurag Arjun, Avail’s co-founder, emphasizes the growing importance of Web3 unification frameworks, particularly in light of blockchain scaling’s increasing reliance on layer-2 rollups. Arjun envisions a future where seamless communication between various blockchain networks mitigates user experience fragmentation issues.
Avail’s journey began within Polygon Labs in 2021 before evolving into an independent project. Notably, in July 2023, Avail launched a testnet bridge to Ethereum, enabling the creation of “validiums” — cost-effective layer 2 solutions that do not store complete transaction data on the primary network. With leadership from former Polygon co-founder Anurag Arjun and former Polygon research lead Prabal Banerjee, Avail remains committed to driving innovation and interoperability within the Web3 ecosystem.