- Avail has raised $75 million in total fundraising after raising $43 million in a Series A round.
- Avail is a blockchain project with modular components that was separated from Polygon in the previous year.
- The Series A funding precedes Avail’s mainnet and token launch in the coming weeks.
As announced on Tuesday by Avail, the round was co-led by Peter Thiel’s Founders Fund, Dragonfly, and Cyber Fund. Figment Capital, Chapter One, SevenX Ventures, Foresight Ventures, Mirana Ventures, KR1, Alliance, and Hashkey Capital were among the other investors. Many of Avail’s funders have increased their funding in the business over time, including Founders Fund and Dragonfly.
Expanding upon a Robust Basis
Avail, which broke out of Polygon last year, is using its creative approach to infrastructure to transform the blockchain space. The project’s main goal is to create a rollup-centric infrastructure that will let it establish itself as a major participant in the subsequent stage of blockchain development.
Having acquired $27 million in seed capital in February, Avail’s Series A funding round occurs just three months later. Avail was reportedly soliciting money for a second round of fundraising at the time, per The Block. With the most recent funding round, co-founder Anurag Arjun announced that Avail has raised $75 million in total, including a $5 million pre-seed round.
Considering the Future
Venture capital continues to pour into the world of blockchain technology, with Peter Thiel’s Founders Fund taking an important stake in Avail, a blockchain project. The $43 million Series A funding round, copartnered by Founders Fund alongside Dragonfly and Cyber Fund, signals a growing confidence in Avail’s potential.
Arjun stated that the Series A round, which was formally closed last week, was organized utilizing a combination of SAFT (simple agreement for future tokens) and SAFE (simple agreement for future equity). He chose not to address the valuation in his remarks.
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