Blockchain Firm Movement Labs Seeks $3 Billion Valuation in $100 Million Funding Round

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Movement Labs, a blockchain development firm, is in the process of raising $100 million in a Series B funding round that could place the company’s valuation at $3 billion, according to a source familiar with the matter. The round is being led by crypto-focused investor CoinFund, with additional participation from Brevan Howard’s digital asset division.

Both CoinFund and Brevan Howard declined to comment on the details of the deal.

This funding round comes as startups in the cryptocurrency space are seeing renewed interest from investors following easing regulatory pressures and a market rebound from the lows experienced after the FTX collapse. The venture capital landscape is also benefiting from a recovery in dealmaking, spurred by interest rate cuts, which provide better opportunities for exits.

Global venture capital activity rose more than 5% to $368.5 billion last year, according to PitchBook.

Movement Labs raised $38 million in its previous funding round last year, and plans to use the new funds to enhance its product offerings, expand its presence in the Asia-Pacific region, and grow its team. The company was founded in 2022 by Vanderbilt University dropouts Cooper Scanlon and Rushi Manche, with a focus on creating a faster, more accessible blockchain. They also released their native token last month.

 

Infinite Reality Valued at $12.25 Billion After $3 Billion Fundraising

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Augmented reality startup Infinite Reality announced on Wednesday that it has raised $3 billion in a new funding round, bringing its valuation to $12.25 billion. The company did not disclose the identities of the investors involved but mentioned that the funds came from a “private investor whose portfolio focuses on global technology and real estate investments.”

Founded in 2019, Infinite Reality had previously attempted to go public via a special purpose acquisition company (SPAC), Newbury Street Acquisition, but the listing did not materialize. The company leverages immersive technologies to offer a range of services designed to enhance audience engagement and monetization for brands and creators.

Past backers of Infinite Reality include well-known companies like Live Nation, T-Mobile Ventures, RSE Ventures, and Lux Capital.

 

Meta to Test Integration of eBay Listings on Facebook Marketplace

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Meta announced on Wednesday that it would begin testing a new feature that integrates eBay listings into Facebook Marketplace, initially in Germany, France, and the United States. This initiative allows buyers to browse eBay listings directly on Facebook Marketplace, with transactions being completed through eBay.

The move comes as Meta continues to appeal a significant $840 million fine imposed by the European Commission in November over alleged anti-competitive practices related to Facebook Marketplace. Despite the ongoing legal proceedings, Meta confirmed it is actively working to address the concerns raised by the Commission.

Meta emphasized that this new collaboration would benefit both eBay sellers, who would gain exposure to Facebook’s large user base, and Marketplace users, who would have access to a wider range of products from the eBay community.