Movement Labs targets $100M funding with $3B valuation

Movement Labs, a Web3 startup developing an Ethereum (CRYPTO:ETH) layer-2 (L2) network, is reportedly nearing the close of a $100 million venture capital funding round, according to a January 8 report by Fortune.

This deal is expected to value the company at approximately $3 billion, marking it as one of the latest blockchain developers to achieve “unicorn” status—a valuation exceeding $1 billion.

Recent data from Crunchbase indicates that Web3 projects raised $1.6 billion during the fourth quarter of 2024.

Although lower than the $11 billion quarterly peaks of early 2022, this figure represents a recovery from the 2023 bear market.

Movement Labs previously raised $38 million in a Series A funding round led by Polychain Capital in 2024.

Movement Labs launched its L2 mainnet and native MOVE (CRYPTO:MOVE) token in December 2024.

The initial beta phase targets infrastructure providers, such as nodes and indexers, before expanding to general users.

The network aims to distinguish itself with "postconfirmations," a mechanism designed to accelerate transaction settlement on L2s.

According to Rushi Manche, co-founder of Movement Labs, this approach could reduce transaction confirmation times to less than one second, offering an alternative to existing L2 settlement methods like zero-knowledge (ZK) and fraud proofs.

Manche noted that fraud proofs on optimistic rollups like Arbitrum (CRYPTO:ARB) and Optimism (CRYPTO:OP) can require up to seven days for finality, while ZK rollups often involve higher costs.

With post confirmations, Movement's L2 allows developers to route transactions through a validator network secured by MOVE tokens, providing an option for high throughput while maintaining Ethereum-level security when necessary.

“You can launch a custom rollup using a set of validators, accept L2 security, and still post call data to Ethereum,” Manche explained.

Movement Labs joins other blockchain developers utilising Move, a Rust-based programming language, in building innovative networks.