Avail, a modular blockchain project that spun out of Polygon, has raised $43 million ahead of its mainnet and token launch.
Avail, a modular blockchain project that spun out of Polygon last year, has raised $43 million in a Series A funding round ahead of its mainnet launch.
Avail's Series A funding round comes just three months after it raised $27 million in seed funding in February. At that time, The Block reported that Avail was raising another round of funding. The latest round brings Avail's total funding to $75 million, including a $5 million pre-seed round, co-founder Anurag Arjun told The Block in an interview.
Specifically, Avail is developing three products: Avail DA , aimed at helping rollups like Arbitrum, Optimism and Starknet scale further and lower their transaction costs; Avail Nexus, a permissionless framework that connects multiple rollups or blockchains for better interoperability; and Avail Fusion Security, which will allow Avail to leverage existing mature assets such as bitcoin and ether to enhance its security, in addition to its native token AVAIL, through a process similar to...
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