Avail Raises $75M in Series A Funding to Tackle Web3 Challenges and Unify Blockchain Ecosystem

Avail, led by Anurag Arjun, a co-founder of Polygon, has successfully raised $75 million in funding rounds to tackle challenges in the Web3 ecosystem, particularly addressing issues like blockchain fragmentation and data availability. The company recently closed a heavily oversubscribed Series A round, securing $43 million, in addition to $32 million from previous pre-seed and seed rounds. Arjun aims to utilise the capital to accelerate development and expand global presence while focusing on addressing critical challenges within Web3. Avail's data availability (DA) solution involves moving data off-chain and verifying its availability using various techniques like validity proofs, erasure coding, and data availability sampling (DAS), enabling scalability and future-proofing for appchains and rollups. The Series A funding saw participation from notable venture capital firms and angel investors, signifying growing interest in Avail's vision of Web3 unification and addressing key technological hurdles. With plans to further enhance security and interoperability through projects like Avail Nexus and Fusion Security, Avail aims to foster partnerships and collaborations within the Web3 space while streamlining blockchain application development.