Movement Labs Rides the Blockchain Wave Again, Plans to Raise $100M in Funding Round

Movement Labs is making waves in the blockchain world again, planning to raise fresh capital in a funding round that could bring in $100m and value the company at a hefty $3bn.

Movement Labs, a layer-2 blockchain startup, is reportedly planning to raise $100m in a funding round that would value the company at $3bn.

CoinFund, a crypto-focused investor, is leading the Series B round, with the digital asset division of London-based investment firm Brevan.

When approached for comments, both firms declined to comment on the matter.

However, sources familiar with the situation told Fortune that investors in this latest round will receive a mix of equity and Movement Labs’ MOVE tokens, with a greater focus on the tokens.

The MOVE token, which launched alongside the beta mainnet in December 2024, is already trading on major exchanges like Binance and Coinbase.

At the time of its debut, the token’s market cap reached an impressive $2.7bn, but it has since stabilised at around $2bn, according to reports.

This funding round comes just a year after Movement Labs raised $38m in its previous round. The new capital will be used to enhance their product, expand their presence in the Asia Pacific market and grow their team.

Founded in 2022 by Cooper Scanlon and Rushi Manche, Movement Labs is a Gen Z venture that aims to create a layer-2 blockchain by integrating Ethereum with Move, a programming language developed by Facebook.

The platform is designed to address key blockchain challenges, such as increasing transaction speeds and enhancing smart contract security.

Movement Labs is capable of handling over 30,000 transactions per second, making it a competitive player in the blockchain space.

Fortune was among the first to report these developments.

(Photo by Unsplash)

See also: MANTRA and DAMAC to tokenise $1 billion in Middle East

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