June 04, 2024
Avail secured a total of $75 million from notable investors, including Peter Thiel’s Founders Fund, Dragonfly Capital, and Cyber Capital. The funding aims to tackle challenges related to rollup interoperability, scalability, and security. With the recent $43 million Series A round, Avail will focus on constructing the unification layer for web3. Notably, several of Avail’s existing funders, including Founders Fund and Dragonfly, have consistently increased their investment in the company over time.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Avail | $43M | June 04, 2024 | Series A | $75M | Peter Thiel’s Founders Fund | Web3 |
In February, Avail secured $27 million in seed capital, and now, just three months later, they’ve completed their Series A funding round. Interestingly, Avail was already seeking funds for a second round of fundraising at the time, as reported by The Block. With the recent funding round, co-founder Anurag Arjun proudly announced that Avail has raised a total of $75 million, including a $5 million pre-seed round.
The blockchain sector continues to attract venture capital, and Avail’s potential has caught the attention of Peter Thiel’s Founders Fund. The $43 million Series A funding round, co-led by Founders Fund alongside Dragonfly and Cyber Fund, reflects growing confidence in Avail’s future prospects.
About Avail
Avail is a blockchain project that aims to address fundamental scaling challenges and tackle the fragmentation experienced by users across different ecosystems. Avail is focused on unifying the blockchain space. It aims to solve scalability issues from first principles, leveraging a validity-proof-based data availability (DA) layer and a network of light clients. AVAIL serves as the native asset of the Avail network. It powers Avail DA, Nexus, and Fusion. The project is accelerating the unification of web3, with mainnet coming soon.
Website: https://www.availproject.org/
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About Investor
Investor: Peter Thiel’s Founders Fund
Peter Thiel’s Founders Fund is a venture capital firm co-founded by entrepreneur and investor Peter Thiel, along with Ken Howery and Luke Nosek, in early 2005. The firm raised its first fund of $50 million from individual entrepreneurs and angel investors in January of that year1. Thiel, known for co-founding PayPal and making the first outside investment in Facebook, remains actively involved in Founders Fund. The firm has made significant investments in promising companies, including Stripe and SpaceX, both of which are among the most valuable unicorns globally.
Location: San Francisco
Website: https://foundersfund.com/
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