Quick take:
- Avail will use the funds to accelerate the development of three core products in its platform — DA, Nexus, and Fusion.
- The company offers a Web3 infrastructure layer designed to allow modular execution layers to scale and interoperate in a trustless way.
- Avail spun off from Polygon eleven months ago, having been in development since 2020.
Former Polygon co-founder Anurag Arjun has secured a $27 million funding round for his modular blockchain infrastructure platform Avail. The fundraising was led by Founders Fund and Dragonfly, with participation from SevenX, Figment, and Nomad Capital.
The company plans to use the funds to accelerate the development of a trinity of products DA, Nexus, and Fusion, which will enable modular execution layers to scale and interoperate trustlessly.
This announcement comes barely 11 months following Avail’s spinoff from Polygon. The platform has been in development since 2022, and is built with the intention of “unifying Web3.”
Commenting on the announcement, Anurag Arjun, co-founder of Avail said the fundraising “accelerates our vision to unify the Web3 space and solve the growing pains of fragmentation.”
“The rollup-centric future for scaling blockchains is already here. Over the next few years, there will be a multitude of rollups, and not necessarily just EVM. There will be a whole host of non-EVM rollups, especially app-specific rollups. Rollup tooling will mature to such an extent that it will be as easy to deploy an app-specific rollup as it is to deploy a smart contract today,” Arjun said.
According to Arjun, given the 10s to 1000s of blockchains that make up the Web3 industry, seamless communication is the key to preventing a fragmentation of user experience.
“This is why it’s imperative to lay the groundwork for the unified future of Web3 by building a unification framework where platforms are united rather than segmented,” he said.
Co-founded by Arjun and former Polygon research lead Prabal Banerjee, Avail wants to streamline the rollup experience, offering a unified, efficient platform for both users and developers from any ecosystem.
The company is developing a trinity of products Data Availability (DA) layer, the Nexus unification layer, and Fusion, an additive security layer, which will address among other Web3 challenges, rollup scalability. The company uses validity proofs, which enable 10x faster guarantees on transaction finalization.
Commenting on his company’s leading role in the seed round, Haseeb Qureshi, Managing Partner Dragonfly said in a statement: “We are confident in Avail’s vision of a unified Web3 ecosystem and believe that its solutions will definitely serve a wider picture in the long run via its credibly neutral, and scalable DA, security, aggregation, and interoperability layers.”
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