PANews reported on August 8 that LYNC, the first mobile-centric Rollup on Movement Labs, raised $1.5 million in its latest pre-seed round of financing. Supporters of this round of financing include Movement Labs, Levitate Labs, Smape Capital, Amesten Capital, Aptos, 8186 Capital and LonghashX, etc. Angel investors include Gabby Dizon of YGG, Rushi Manche and Cooper Scanlon of Movement Labs, Lai Ho Tin of J17 Capital, Bruno Faviero of Magna, Arjun Kalsy of Fuel, Prashant Maurya of Spheron, etc.
LYNC plans to use this funding to bring the world's 7 billion smartphone users to the blockchain and provide a highly scalable mobile application development platform for independent entrepreneurs, developers, and founders. LYNC's mobile-first Rollup technology relies on Movement Labs' Move stack, which can achieve high throughput and ultra-low transaction costs, enabling developers to create large-scale mobile applications and games. This financing will help LYNC further promote the development of its ecosystem and expand the coverage of users and developers.
