Movement Labs, a developer of EVM-compatible Zk-powered blockchain MoveVM, is reportedly in the process of raising $100 million in a Series B funding round. Led by CoinFund and with participation from Brevan Howard’s digital asset arm, the fundraising values the Web3 company at $3 billion, according to sources. This follows a $38 million Series A round in April 2024.

The company aims to resolve key blockchain issues such as user experience and smart contract exploits. The fresh capital will be used to enhance its product, expand in the Asia Pacific region, and increase its team size. Movement Labs was founded in 2022 by Rushi Manche and Cooper Scanlon.