According to media reports, Avalanche secured $12 million in a private funding round on June 25, 2020. Investors in this round included Dragonfly, Galaxy Digital, NGC Ventures, IOSG Ventures, Bitmain, and Initialized Capital, among others. Following this round, Avalanche's total cumulative funding reached $540 million.Avalanche is a platform developed by Ava Labs for creating custom blockchain networks and decentralized applications (dApps). The platform features exceptional scalability, with the capacity to process up to 4,500 transactions per second (TPS). Its innovative consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to efficiently launch robust, customized blockchain solutions.Since its inception, Avalanche has experienced rapid growth. After completing its private funding round in June 2020, the project successfully raised $42 million in a public sale in July of the same year. In September 2020, Avalanche officially launched its mainnet and opened trading for the AVAX token. The year 2021 marked a significant period for Avalanche, during which the project completed $230 million in over-the-counter funding and saw its native token AVAX listed on several major exchanges. Additionally, the Avalanche Foundation launched $200 million and $290 million incentive programs in November 2021 and March 2022, respectively, further accelerating the development of its ecosystem.
