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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.

 

Hippocratic AI Secures $141 Million in Series B, Valued at $1.64 Billion

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Hippocratic AI has reached a valuation of $1.64 billion after completing a Series B funding round, raising $141 million. This new round, which brings the company’s total funding to $278 million, was led by Kleiner Perkins, a venture capital firm known for backing tech giants such as Google, Amazon, and Genentech.

Existing investors in the company, including Andreessen Horowitz (A16z), General Catalyst, Premji, NVIDIA, SV Angel, Universal Health Services (UHS), and WellSpan Health, also participated in the round.

The success of Hippocratic AI highlights the thriving sector of AI-driven healthcare solutions, especially following the surge in artificial intelligence innovation, sparked by the release of OpenAI’s ChatGPT in 2022. The company, co-founded by CEO Munjal Shah, includes a team of physicians, healthcare professionals, and AI researchers from prestigious institutions like Johns Hopkins, Stanford, and Microsoft.

Hippocratic AI’s strong funding reflects the growing interest in AI applications for healthcare, signaling continued investment in the industry’s potential to transform medical practices and patient care.