Movement Labs Nears $100 Million Series B Funding Round
Movement Labs, the team behind the Movement blockchain, is reportedly close to completing a $100 million Series B funding round, bringing the company’s valuation to $3 billion.
Key Details of the Funding Round
- Led by: CoinFund and Nova Fund (investment arm of Brevan Howard).
- Investor Benefits: Investors will receive both equity and MOVE tokens.
- Previous Funding: Movement Labs raised $38 million in Series A and $3.4 million in Pre-Seed rounds, with participation from prominent crypto funds such as Polychain Capital, Binance Labs, Hack VC, dao5, OKX Ventures, and Robot Ventures.
If this funding round closes successfully, Movement Labs’ total funding will reach $141 million.
About Movement Labs
Movement is a modular framework that allows developers to build and deploy blockchain networks using the Move programming language. Initially developed by Facebook for the now-defunct Diem stablecoin project, Move sets Movement apart by offering:
- Vertical Integration: Optimized interoperability across blockchain layers.
- Horizontal Scalability: Compatibility with ecosystems like Avalanche and others.
Unlike Aptos and Sui, which are independent blockchains built on Move, Movement is a Layer-2 solution on Ethereum, leveraging Ethereum’s vast ecosystem for enhanced scalability and accessibility.
Move Stack and Ecosystem Expansion
Movement Labs is also developing Move Stack, a framework execution layer compatible with rollups such as Optimism, Polygon, and Arbitrum, ensuring its technology can integrate seamlessly with existing Layer-2 solutions.
Recent Milestones
- Mainnet Beta & MOVE Token: Launched in December 2024.
- Current Market Cap: MOVE token’s market cap stands at approximately $2.1 billion.
Movement Labs’ innovative approach to blockchain infrastructure and its focus on modular, Ethereum-compatible solutions position it as a significant competitor in the evolving blockchain market.
For further updates and insights, visit t.me/godexglobal.