Avail, a blockchain infrastructure project, has raised $27 million in its seed funding round led by notable venture capital firms Founders Fund and Dragonfly, according to a February 26 statement shared with CryptoSlate.
The capital raised will fuel the development of Avail’s three foundational products: Data Availability (DA), Nexus and Fusion. These components, which form what they call the “Avail Trinity,” are poised to accelerate web3 network integration.
Anurag Arjun, co-founder of Avail, explained that the project lays the foundation for a cohesive future in Web3 by constructing a unified framework where platforms operate in unity rather than in isolation.
Arjun said:
“Rollup tooling will mature to the point where it will be as easy to deploy an app-specific rollup as it is today to deploy a smart contract. In this world of tens and thousands of chains, they will have to talk to each other seamlessly or it will lead to a massive user experience fragmentation problem.”
Last year, Avail was created as a spin-off of Polygon, Ethereum’s leading layer-2 network.
What defines Avail?
Avail believes the industry is moving toward a system where “individual ecosystems can deploy their own technology and scale solutions while remaining connected through a secure coordination layer with a minimum of trust.” In this world, the Avail Trinity would be crucial in shaping the crypto landscape.
The Avail DA, a modular layer reinforced with validity proofs and data availability sampling (DAS), forms the scalable basis. It provides plenty of room for rollups to flourish, facilitating efficient verifiability. According to the company:
“[DA] is not only a solid foundation for unification, but an important part of the core infrastructure for the rollup-oriented future.”
Avail Nexus emerges as the authentication hub, harmonizing various rollups within and outside the Avail ecosystem and using Avail DA as the root of trust.
Additionally, Avail prioritizes robust security through Fusion Security. This innovative approach uses native assets from mature ecosystems such as Bitcoin and Ethereum to strengthen the platform’s security architecture. It added:
“This approach will gradually strengthen Avail’s crypto-economic security and marks one of the first cases where foreign tokens such as ETH and BTC are used to build consensus on another blockchain.”