Movement Labs, a blockchain developer, is reportedly seeking $100 million in funding to value the company at $3 billion, according to Reuters. The Series B round is led by CoinFund and includes London-based Brevan Howard’s digital asset division.
The move comes a year after the company raised $38 million in its previous funding round. Funds from this round are expected to enhance products, increase presence in Asia Pacific, and recruit more team members.
Founded in 2022 by Vanderbilt University dropouts Cooper Scanlon and Rushi Manche, Movement Labs aims to create a more accessible, fast, and convenient blockchain. The company recently launched its own native token just last month.
Source: https://www.investing.com/news/stock-market-news/movement-labs-eyes-100-million-in-fresh-capital-3-billion-valuation-93CH-3802962