According to PANews, Movement Labs' mobile-centric Rollup LYNC has successfully raised $1.5 million in its latest pre-seed funding round. The funding round saw participation from Movement Labs, Levitate Labs, Smape Capital, Amesten Capital, Aptos, 8186 Capital, and LonghashX. Notable angel investors included Gabby Dizon from YGG, Rushi Manche and Cooper Scanlon from Movement Labs, Lai Ho Tin from J17 Capital, Bruno Faviero from Magna, Arjun Kalsy from Fuel, and Prashant Maurya from Spheron.

LYNC plans to utilize the funds to bring blockchain technology to the 7 billion smartphone users worldwide and provide a highly scalable mobile application development platform for independent entrepreneurs, developers, and founders. The mobile-first Rollup technology of LYNC, based on Movement Labs' Move stack, enables high throughput and ultra-low transaction costs, allowing developers to create large-scale mobile applications and games. This funding will help LYNC further develop its ecosystem and expand its reach among users and developers.