Movement Labs close to finalizing $100 million Series B funding round: report
Quick Take Movement Labs is close to finalizing a $100 million Series B funding round, according to Fortune, citing sources close to the deal. The round is reportedly co-led by CoinFund and Nova Fund — part of Brevan Howard’s digital assets arm.
San Francisco-based blockchain development firm Movement Labs is reportedly close to finalizing a Series B round targeting $100 million.
The round will be co-led by CoinFund and Nova Fund — part of hedge fund Brevan Howard’s digital assets arm, Fortune reported , citing multiple sources close to the deal.
The Series B round would value the company at $3 billion, according to one of the sources, and is expected to close by the end of January, with investors receiving a combination of equity and the project’s native Move token.
Movement Labs previously raised $38 million in a Series A round led by Polychain Capital, announced in April 2025. Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5 and Aptos Labs also participated in the round for the Move programming language-based project. It also raised $3.4 million in a pre-seed funding round in 2023.
The Series A funding was used to support Movement Labs’ mission to bring Facebook's Move Virtual Machine to Ethereum. The project aims to address smart contract vulnerabilities and enhance transaction throughput via the Movement zero-knowledge blockchain.
Movement mainnet beta and TGE
Movement developers announced the project’s mainnet beta and Move token generation event in December. The mainnet beta initiates the first phase of Movement’s infrastructure, where providers deploy essential components like follower nodes, RPC nodes and indexers.
Despite utilizing Ethereum for security, the network is not a Layer 2 chain and could be better described as a fast finality rollup or a sidechain, Movement Labs co-founder Rushi Manche said previously.
Movement expands the usage of the Move programming language beyond the well-known Aptos and Sui Layer 1 blockchains. Move was originally developed at Meta by a team composed of people from Facebook’s now-defunct Diem stablecoin project.
Movement Labs is also developing the Move Stack, an execution layer framework compatible with rollups like Optimism, Polygon and Arbitrum.
The Block reached out to Movement Labs, CoinFund and Brevan Howard for comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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