Avail Raises $43M for Web3 Unification

Avail, a modular blockchain base layer, has successfully raised $75 million across multiple investment rounds, highlighting venture capitalists' recognition of the need to tackle data availability challenges across blockchains.

In a highly oversubscribed Series A round on June 4, Avail secured $43 million, complementing its existing funds of $32 million from previous pre-seed and seed rounds. Co-founder Anurag Arjun intends to use the new funds further to develop Avail as a permissionless unification layer for Web3.

Blockchain Fragmentation, Insufficient Data Availability (DA), and Limited Scalability

"With this new capital infusion, we are well-positioned to accelerate our development, expand our global presence, and continue addressing the most critical challenges facing Web3 today," said Arjun, the head of Avail and a co-founder of Polygon. He aims to tackle three major challenges within the Web3 ecosystem: blockchain fragmentation, insufficient data availability (DA), and limited scalability.

Arjun explained to Cointelegraph how Avail's DA solution addresses data availability issues by moving data off-chain and verifying its availability. This is achieved through validity proofs, erasure coding, light clients, and data availability sampling (DAS).

He highlighted a key difference from monolithic blockchain designs, noting that while these designs reduce block space as demand grows, Avail's DA layer can scale block space with demand, ensuring appchains and rollups are future-proofed.

Web3 Unification

Joey Krug, a partner at Founders Fund, a venture capital firm involved in the funding, emphasized the simplicity of creating new protocols using Avail's technology stack.

He noted, "Avail makes data availability—a historically costly problem for blockchains—much cheaper and more efficient with their innovative, custom-built approach."

Avail's roadmap includes the development of Avail Nexus, a unification layer leveraging Avail DA to enhance cross-rollup operability. Additionally, Fusion Security is working to ensure unified and shared security across the Avail ecosystem.