The blockchain development team Movement Labs has completed a $38 million Series A funding round, led by Polychain Capital

2024-04-25 22:51:09

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ChainCatcher news, according to Fortune magazine, the blockchain development team Movement Labs has completed a $38 million Series A funding round, led by Polychain Capital, with participation from Hack VC, Foresight Ventures, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5, and Aptos Labs. This funding will support the company in bringing Facebook's Move virtual machine to Ethereum, addressing smart contract vulnerabilities and improving transaction throughput.

According to the Web3 asset data platform RootData, Movement Labs was established in 2023 and previously completed a $3.4 million seed funding round in September 2023. In addition to its flagship product Movement L2, Movement Labs will also launch Move Stack, an execution layer framework compatible with rollup frameworks such as Optimism, Polygon, and Arbitrum.

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Movement Modular Blockchain Framework