Blockchain developer Movement Labs is raising fresh capital in a Series B round led by crypto-focused investor CoinFund, with participation from London-based investment firm Brevan Howard. The deal could value the company at $3 billion and fetch $100 million. Funds will be used to improve its product, expand into Asia Pacific, and hire more staff.
The latest funding round comes after Movement Labs raised $38 million in its previous round last year. Founded by Vanderbilt University dropouts Cooper Scanlon and Rushi Manche in 2022, the company aims to make blockchain more accessible and convenient.
This investment marks a trend of startups gaining favor among investors as regulatory pressures ease and market conditions improve. Global venture capital dealmaking activity rose over 5% to $368.5 billion last year, according to PitchBook.
Source: https://www.reuters.com/technology/blockchain-firm-movement-labs-targets-3-billion-valuation-funding-round-source-2025-01-08