Movement Labs Raises $38 Million
April 26, 2024
San Francisco-based Movement Labs has raised $38 million in a Series A financing round led by Polychain Capital. The project aims to address smart contract vulnerabilities and enhance transaction throughput by utilizing the Movement zero-knowledge layer 2 blockchain. Moreover, it seeks to introduce the Move Virtual Machine to Ethereum. Movement plans to launch its public testnet, Parthenon, in the coming weeks, with the mainnet slated for release by the end of the year.
