Ava Labs Set to Raise $350M at $5B Valuation: Report

The valuation would put the blockchain builder in the upper echelons of the crypto world by that measure.

AccessTimeIconApr 14, 2022 at 9:24 a.m. UTC
Updated May 11, 2023 at 4:05 p.m. UTC

Ava Labs, builder of the Avalanche blockchain, is raising a funding round that would give it a $5.25 billion valuation, according to a Bloomberg report Thursday.

  • The Brooklyn, N.Y.-headquartered startup is raising $350 million, according to the report, which cited people familiar with the discussions.
  • A $5.25 billion valuation would place Ava Labs in the upper echelons of most valuable crypto startups in the world, though it would be still some ways behind the likes of Ethereum scaler Polygon, which is worth $20 billion as of its recent funding round, and USDC stablecoin backer Circle, which was valued at $9 billion in February.
  • Like several other blockchains, Avalanche is looking to draw projects and applications away from the Ethereum blockchain with the promise of high speeds and low transaction fees. Specifically, Avalanche offers "subnet" functionality, where application-specific blockchains can be spun up at scale.
  • Ava Labs didn't immediately respond to a request for comment.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.