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Movement Labs - Pre-Seed
Overview
Funding Date
September 14, 2023
Financing amount
$3.4M
Valuation
--
Category
Subcategory
About Movement Labs - Pre-Seed
Movement Labs today announced that it has raised $3.4 million in pre-seed funding from a distinguished group of industry leaders, which will enable Movement Labs to grow the adoption and development of Move, a smart contract development language with embedded safeguards protecting against attack vectors like reentrancy that cost Web3 users billions of dollars annually.
Concurrent with the pre-seed funding, Movement Labs is launching the Movement SDK (software development kit), which will agnostically deliver secure and high-performance Move environments directly to established blockchain ecosystems.
This round of investors was led by Varys Capital, dao5, Blizzard The Avalanche Fund, Borderless Capital and their Cross-Chain Fund focused on the Wormhole ecosystem with participation from COLONY, Interop Ventures, Elixir Capital, BENQI, and many other notable partners. The raise also involved angel investors, such as dao5's George Lampeth, Eigenlayer's Calvin Liu, Berachain's Smokey The Bera, Avail's Anurag Arjun, GMX's coinflipcanada, and the co-founders of Ankr.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Thailand | 2018 | 9 | -- | ||
| Fund | United States of America | 2022 | 37 | -- | ||
| Fund | -- | -- | 44 | -- | ||
| Fund | United States of America | 2018 | 97 | [email protected] | ||
| Corporate | -- | 2021 | 7 | -- | ||
| Fund | France | 2022 | 9 | [email protected] | ||
| Fund | United Kingdom | 2022 | 2 | -- | ||
| Corporate | -- | 2020 | 5 | -- | ||
| Angel Investor | Unknown | -- | 1 | -- | ||
| Angel Investor | United States of America | -- | 16 | -- |
Founders & Team
Cooper Scanlon
Rushi Manche
Company Profile / Project Introduction
Movement Labs is the creator of the Movement SDK, a modular framework to build and deploy Move-based infrastructure, applications, and blockchains in any distributed environment. The team is building a suite of products and services that empower non-Move protocols to leverage the power of the Move Programming Language without writing a single line of Move code. The team's first release, M1, redefines the L1 as a Vertically Composable and Horizontally Scalable Layer 1 Framework that is Solidity-compatible, connects EVM and Move liquidity, and lets builders customize modular and interoperable app-chains with a diverse base of users and liquidity accessible out of the box.