Blockchain company Movement Labs has secured $100 million in Series B funding, valuing the firm at $3 billion. The round is led by CoinFund and includes participation from Brevan Howard’s digital asset arm. The investment follows a recent $38 million Series A round announced in April 2024.
Movement Labs aims to build an integrated blockchain network capable of handling over 30,000 transactions per second. The company plans to use the new funding to improve its product, expand into the Asia Pacific region, and hire more staff.
The funding comes at a time when Web3 companies are attracting increased interest from venture capital firms. Movement Labs co-founder Rushi Manche has identified two key issues with blockchain technology: user experience and smart contract exploits. The company aims to address these problems through its integrated blockchain network.
This latest fundraising follows the recent launch of the company’s native token, $MOVE, in December 2024. Movement Labs was founded by Rushi Manche and Cooper Scanlon in 2022 and has previously secured funding from Polychain Capital and other investors.
Source: https://www.nftgators.com/movement-labs-targeting-3b-valuation-in-new-100m-fundraising