For the first time in 2018, a group calling itself "Team Rocket" published a white paper outlining Avalanche on the InterPlanetary File System. Cornell University researchers led by computer scientist and blockchain expert Emin Gün Sirer developed the concept. They established the Avalanche blockchain network and Ava Labs, a software firm, to run it. In February 2019, the initial seed sale for AVAX tokens took place. Following this, a second private sale and an initial coin offering (ICO) were held in May and July 2020, respectively. Ava Labs released Avalanche on September 21, 2021. Ava Labs is reportedly planning a large new round of funding for 2022, which would make it one of the most valuable cryptocurrency start-ups.
https://www.avax.network/