Major cryptocurrency exchanges (e.g., Binance, Coinbase) or Avail official announcements

Avail Raises $43M Series A for Web3 Unification, Backed by Peter Thiel

Jun 4, 2024, 01:09 PM

Avail, a modular blockchain project that spun out of Polygon, has raised $43 million in a Series A funding round co-led by Peter Thiel's Founders Fund, Dragonfly, and Cyber Fund. The funding comes ahead of Avail's mainnet and token launch in the coming weeks. Avail aims to become the unification layer for Web3, providing robust infrastructure for modular execution layers with a permissionless verification hub and additive crypto-economic security. The project features three core components: Avail DA, Avail Nexus, and Avail Fusion. Avail's development is part of a broader trend towards modular blockchains, which divide functionality into independent layers to enhance scalability.