The modular blockchain project Avail has completed a $43 million Series A funding round, led jointly by Dragonfly and Cyber Fund.

ChainCatcher news, according to The Block, Peter Thiel's Founders Fund co-led a $43 million Series A funding round for the modular blockchain project Avail, which has spun off from Polygon. Dragonfly and Cyber Fund jointly 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.

Additionally, the Web3 asset data platform RootData shows that Avail is a modular blockchain focused on data availability: it sorts and records blockchain transactions without needing to download the entire block to prove the availability of block data. This allows it to scale in ways that a monolithic blockchain cannot achieve. Off-chain scaling solutions can unleash their full potential by transferring data availability to Avail. Independent chains can enhance the security of validators to ensure data availability by using Avail.