Polygon's modular blockchain project Avail has completed a $27 million seed round financing, led by Founders Fund and Dragonfly, with participation from Seven X and others

ChainCatcher news, according to CoinDesk, the Polygon modular blockchain project Avail has announced the completion of a $27 million seed round financing, led by Founders Fund, a venture capital firm founded by Peter Thiel, and Dragonfly, with participation from SevenX Ventures, Figment.Nomad Capital, and several angel investors.

It is reported that Avail was spun off from Polygon in March 2023, led by Polygon co-founder Anurag Arjun. This round of financing will be used to develop three core products: its Data Availability solution (DA), Nexus, and Fusion. Among them, the first iteration of Nexus is expected to go live in 2024, while Fusion Security will be ready by 2025.