PANews reported on June 4 that according to The Block, Peter Thiel's Founders Fund co-led a $43 million Series A round of investment in Avail, a modular blockchain project separated from Polygon. Dragonfly and Cyber Fund co-led this round of financing. Other investors include SevenX Ventures, Figment Capital, Nomad Capital, Chapter One, Foresight Ventures, Mirana Ventures, KR1, Alliance and Hashkey Capital.
Avail aims to simplify and enhance the scalability of blockchain through modular design. Its products include data availability layer (DA), Nexus permission verification center and Fusion Security. This financing will help Avail advance the launch of its mainnet and further develop its technology and market positioning. Avail is currently running on the testnet and plans to launch Nexus later this year and Fusion Security next year.