Movement Labs Close to Raising $100M Reaching $3B Valuation: Report

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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January 8, 2025

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San Francisco-based blockchain developer Movement Labs has reportedly been nearing the completion of a $100 million Series B funding round, which could value the company at $3 billion, according to a report by Fortune.

Sources familiar with the deal revealed that the funding round is being led by crypto-focused investor CoinFund, with participation from Brevan Howard Digital, the digital asset arm of the London-based investment firm.

Understanding Movement Labs and Its Blockchain Vision

Movement Labs, known for its layer-2 blockchain solution on Ethereum, has seen major growth since its founding in 2022 by Vanderbilt University dropouts Cooper Scanlon and Rushi Manche.

The company has positioned itself as a key player in making blockchain technology more accessible, faster, and user-friendly.

In a podcast interview with Cryptonews, Manche shared insights into launching $MOVE, the Move programming language, and his vision for the future of blockchain development.

This latest funding round follows the company’s previous 2024 fundraising success, which raised $38 million.

The company reportedly plans to allocate the new funds toward product development, team expansion, and scaling its operations in the Asia-Pacific region, where blockchain adoption continues to grow.

The Road to a $3 Billion Blockchain Valuation

Movement Labs’ rapid rise can be attributed to its strategic development and strong backing from institutional investors.

By securing this latest round of investment, Movement Labs seeks to scale its offerings globally, targeting faster and more accessible blockchain solutions.

The $3 billion valuation indicates strong investor interest in Movement Labs’ blockchain solutions and its potential to scale globally.