SINGAPORE, June 12, 2024 /PRNewswire/ -- In a move that underscores its commitment to broadening the reach and usability of Web3 technologies, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in Avail, a modular blockchain solution designed to unify Web3 and optimize data availability (DA) for scalable and customizable applications.
Avail DA provides decentralized infrastructure for developers to quickly build and scale modern blockchain applications. By inheriting security from the base layer through rollups and extending restaking to include multiple assets, such as BTC and ETH, it aims to provide ample security for the thousands of rollups built on top.
Edward, Managing Partner at HTX Ventures, shared his investment insights: "The Avail team possesses exceptional technical capabilities, and Avail DA is one of the fastest and most cost-effective data availability solutions in the market right now. By combining their data availability layer with cross-chain interoperability and the robust security provided by Avail Nexus & Avail Fusion, Avail is building the unification layer for Web3. HTX Ventures is excited to support Avail on this journey and participated in the recently announced $43M Series A fundraise alongside Founders Fund & Dragonfly."
"This Series A funding marks a pivotal moment for Avail as we strive to build the permissionless unification layer for Web3," said Anurag Arjun, Co-founder of Avail. "With this new capital, we are poised to accelerate our development, expand our global presence, and continue to address the most critical challenges facing Web3 today, such as blockchain fragmentation, insufficient data availability, and limited scaling. Additionally, it will help foster partnerships and collaborations with other players across the entire Web3 ecosystem, which is mission-critical for Avail's success."
Recently, Avail has crossed a major milestone in its incentivized testnet, "Clash of Nodes," with nearly 110,000 total accounts created, and 116 million transactions processed - ahead of its upcoming mainnet due to be launched in the next few weeks. HTX Ventures is excited to support prominent projects like Avail that are building solid infrastructure to enable a user-friendly decentralized future.
About Avail:
Avail is led by Polygon's former co-founder Anurag Arjun and is building a unification layer to solve rollup fragmentation at scale. Avail addresses this from first principles solving blockchain scalability with Avail DA, a foundational DA layer which implements the same technology planned for Ethereum's danksharding roadmap, including KZG Commitments and Data Availability Sampling (DAS). Avail Nexus addresses growing fragmentation concerns with permissionless interoperability, leveraging proof aggregation on Avail's scalable DA layer. Avail's security is then reinforced with multi-asset staking through Avail Fusion. Start your unification journey today at availproject.org
About HTX Ventures:
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Visit us here.
Contact Details
Michael Wang
glo-media@htx-inc.com
Company Website
https://www.htx.com/en-us/ventures
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