Modular Blockchain Startup Avail Raises 27M Dollars in Seed Funding with Founders Fund at Helm

Crypto News- Avail, the innovative modular blockchain venture that emerged from Polygon’s ecosystem last year, has just secured a significant $27 million in seed funding. This investment round, co-led by none other than Peter Thiel’s Founders Fund and Dragonfly, marks a pivotal moment for the project.

Joining the funding fray are notable backers like SevenX Ventures, Figment Capital, Nomad Capital, and a group of undisclosed angel investors, as announced by Avail on Monday.

Modular Blockchain Startup Avail Raises 27M Dollars in Seed Funding with Founders Fund at Helm

While details on the round’s structure and valuation remain elusive, insiders suggest it was structured as a simple agreement for future tokens, propelling Avail to a valuation in the several hundred million dollar range when fully diluted.

Anurag Arjun, one of Avail’s co-founders, remained tight-lipped on the specifics, citing an ongoing funding round. However, he hinted at an imminent reveal post-completion.

Avail’s journey began within Polygon’s ecosystem in late 2020, operating under its umbrella until March 2023, when it transitioned into an independent entity. Now, with external funding fueling its momentum, Avail is gearing up for its mainnet launch.

But what sets Avail apart? At its core, Avail aims to revolutionize the rollup experience, anticipating the pivotal role of rollups in blockchain scalability. Through its Trinity offerings—Avail DA, Nexus, and Fusion Security—the project aims to address critical scalability challenges while unifying and securing blockchain ecosystems.

Avail DA, the cornerstone of this trinity, tackles data availability, providing a responsive and scalable layer crucial for Ethereum’s growth. Nexus, the second pillar, promises a permissionless verification hub to streamline rollups, while Fusion Security bolsters ecosystem security by leveraging assets from mature ecosystems like Bitcoin and Ethereum.

In a landscape increasingly crowded with modular blockchain projects, Avail distinguishes itself with its comprehensive approach. While others focus on specific components, Avail tackles the broader scope, aiming to alleviate user experience fragmentation stemming from rollup proliferation.

Joey Krug, a partner at Founders Fund, underscores the significance of Avail’s modular design, unlocking scalability improvements and addressing fragmentation issues plaguing the blockchain space.

With Avail DA already in testnet and mainnet slated for an April launch, the project is on track to deliver tangible results. Meanwhile, Nexus and Fusion Security are poised to follow suit in the coming months and years.

As Avail continues its journey, expanding its team and operations with a core base in Dubai, the blockchain community eagerly anticipates the impact of its modular approach on the future of scalability and user experience.