Movement Labs Raises $38M for Rollup Based on Facebook's Move Language

Movement Labs, a blockchain company that aims to bring Facebook's Move Virtual Machine to Ethereum, has secured $38 million in a Series A financing round led by Polychain Capital. The firm was founded by Rushi Manche, 21, and Cooper Scanlon, 24 – Vanderbilt college dropouts. Move is today best known for its association with Aptos and Sui, layer-1 blockchains with a focus on low fees and high throughput. By extending the tech to an Ethereum layer-2 – a blockchain that writes data to Ethereum but offers faster and cheaper transactions – the Movement team hopes to achieve greater security and transaction speeds than layer-2 incumbents.

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