Polychain Capital leads $38 million round for Movement Labs to bring Facebook's Move to Ethereum

Movement Labs will use the funding to bring Facebook's Move Virtual Machine to Ethereum ahead of a potential mainnet launch this year.

San Francisco-based blockchain development firm Movement Labs has raised $38 million in a Series A round led by Polychain Capital.

According to a statement shared with The Block, the funding will support Movement Labs’ mission to bring Facebook's Move Virtual Machine to Ethereum. This project aims to address smart contract vulnerabilities and enhance transaction throughput via the Movement zero-knowledge Layer 2 blockchain. Movement’s Layer 2 would expand the usage of the Move programming language beyond the well-known Aptos and Sui Layer 1 blockchains. Move was originally developed at Meta by a team composed of people from Facebook’s now-defunct Diem stablecoin project.

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