Movement Labs Emerges from Stealth with $38 Million Series A to Bring Move to Ethereum

IconCrypto News Terminal25 Apr, 2024

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Movement Labs Emerges from Stealth with $38 Million Series A to Bring Move to Ethereum

**Movement Labs Emerges from Stealth with $38 Million Series A to Bring Move to Ethereum** Movement Labs, the blockchain software company developing Move, its purpose-built smart contract programming language, today announced that it has closed $38 million in Series A funding led by Polychain Capital. The round also included participation from Variant, Placeholder, Archetype, Maven11, Robot Ventures, Figment Capital, IOSG Ventures, Bankless Ventures, OKX Ventures, Dao5, and Aptos Labs, among others. The funding will be used to deploy Movement Labs' Move-based virtual machine (VM) on Ethereum, allowing developers to build and deploy secure, scalable smart contracts on the network. Previously on May 5, 2023, Movement Labs announced a $10 million seed funding round to develop its Move-based blockchain. Today's announcement marks a significant milestone for the company as it prepares to bring Move to Ethereum.

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