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Movement Labs, Led by Young Founders, Raises $38M for Ethereum L2 with Move Language

Apr 25, 2024, 02:47 PM

Movement Labs, co-founded by a 21 and 24-year-old, has successfully raised $38 million in a Series A funding round led by Polychain to develop Movement L2, a layer-2 Ethereum blockchain. The project will utilize Move, a programming language originally developed by Facebook, now Meta, and will incorporate Celestia for data availability. This initiative aims to enhance the Ethereum ecosystem by incorporating Move's capabilities for secure and high-throughput transactions, including the availability of TIA and stTIA tokens. The funding round also saw participation from other investors including Hack VC.