Ex-Polygon Co-founder's Web3 Startup Avail Bags USD 27 million in a Seed Round The capital influx will help to develop the Avail trinity. Avail Trinity is a three phase roadmap to enable a secure, scalable and seamlessly interconnected web3 experience for end users of any ecosystem. The phases are Avail DA, Avail Nexus, and Avail Fusion Security
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Web3 infrastructure layer startup, Avail, announced it had secured seed funding of USD 27 Million led by Peter Thiel's Founders Fund and Dragonfly. The round also saw participation from SevenX, Figment, Nomad Capital, and several angel investors.
Avail is working towards building the foundation for a future in which distinct ecosystems will be able to use their scalability and technology while still being connected through a secure and trust-minimized coordination layer.
The capital influx will help to develop the Avail Trinity. Avail Trinity is a three-phase roadmap to enable a secure, scalable and seamlessly interconnected web3 experience for end users of any ecosystem. The phases are Avail DA, Avail Nexus, and Avail Fusion Security.
Founded by former Polygon co-founder Anurag Arjun and research lead Prabal Banerjee, the startup was conceptualised within Polygon in 2020 and became a separate entity in 2021. "We want to develop solutions that enable builders to transform blockchains and lead to broader adoption of Web3. What we create will be open source, and the community will eventually govern Avail," shared Anurag Arjun, Founder, Avail on LinkedIn.
Bridget Harris, Associate, Founders Fund shared on X, "From a product perspective, Avail decouples data hosting, execution, and verification to modularize the DA stack from the rest of the blockchain. Some of the (many) superpowers of Avail: huge throughput improvements, interesting applications for RaaS providers like @Calderaxyz , much cheaper tx fees, and support for many ecosystems."
"When we began building Avail back in 2020, rollups development had just begun and we knew they were the biggest innovation to scaling execution for blockchains. But they are hungry for data availability. That's why the first leg of the problem we focused on was scalable DA via Avail DA. But once we enable a world of 10s of 1000s of rollups, this will inevitably lead to user experience fragmentation. That's why we wanted to build out a unification substrate that would enable trust-minimized messaging between rollups. That's the second leg of the problem we solve via Avail Nexus. And to ensure ample security, we plan to roll out Avail Fusion Security, which solves for additive cryptoeconomic security. That's the Avail Trinity that we are announcing today," Anurag Arjun, Founder, Avail.
Arjun also announced that Avail DA mainnet would be going live soon.
