Former Polygon Team Secures $43M Series A Round for Blockchain Scaling Solution Avail

Avail, a blockchain that aims to help others blockchain today announced a $43 million Series A round led by Founders Fund, Dragonfly and Cyber ​​Fund. Adding to his pre-seed and seed increases, its funding now stands at $75 million.

Avail customers are layer-2which means they like blockchains Basic, Polygon, Arbritrum or Opitmism that assemble batches of transactions and write them to a primary or layer 1 chain. Avail provides services specifically for rollups, which are a type of layer 2 designed to scale networks. By processing transactions away from the main blockchain, rollups ensure that costs are reduced and that the chain avoids delays caused by congestion.

Co-founder Anurag Arjun told Fortune that Web3’s success will depend on each of the tens of thousands of blockchains interacting with each other seamlessly, otherwise it risks a fragmented user experience. Both Arjun and co-founder Prabal Banerjee are blockchain veterans, having met while working Polygona popular level 2 now compatible with Avail.

“There are hundreds of rollups and it’s a very fragmented ecosystem. So we’re building a way to come together [them] together, so that users don’t have to deal with the complexity of the infrastructure,” said Arjun.

There are essentially two components to what Ethereum offers at layer 2: data availability and regulations. Rollups on Avail will maintain the agreements on Ethereum, but Avail hopes to replace the data availability side.

The company plans to use the $75 million raised to develop three main products: the foundational data availability (DA) layer, the Nexus unification layer, and an additional security layer called Fusion. Together, they form a unifying infrastructure layer that, in theory, will be compatible with a wide variety of chains. However, the company plans to start with format rollups Ethereum ecosystem.

“Their DA solution, paired with the Nexus interoperability layer and Fusion security layer, makes it extremely easy and simple for teams to create a new protocol (across all cryptocurrency categories) leveraging the Avail technology stack,” Joey Krug, partner of Founders Fund, we read in a statement.

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