Avail, led by a Polygon co-founder, raises $75 million to tackle Web3 challenges like fragmentation and data availability.
Modular blockchain base layer Avail has secured $75 million through several investment rounds, as venture capitalists recognize the need to address data availability issues across blockchains.
On June 4, Avail closed $43 million in a heavily oversubscribed Series A round, adding to its existing corpus of $32 million from previous pre-seed and seed rounds. Anurag Arjun, co-founder of Avail, plans to continue directing the funds to build the permissionless unification layer for Web3.
Avail is headed by Arjun, a co-founder of Polygon, who aims to address three major challenges within the Web3 ecosystem: blockchain fragmentation, insufficient data availability (DA) and limited scalability.
