Ledger raises $109 million in collection C extension spherical
- Ledger’s final spherical was at a €1.3 billion valuation.
- The startup will use the funds to develop a brand new technology of {hardware} wallets, constructing on its newest provide Ledger Stax.
- New traders within the collection C extension spherical included VaynerFund and True World Ventures.
Ledger, the main cryptocurrency hardware wallet maker, has raised €100 million ($109 million) in its collection C extension spherical.
As reported by Bloomberg on Thursday, the French startup was valued at €1.3 billion ($1.4 billion), which was the valuation through the earlier financing spherical closed in June 2021.
Ledger is proud to announce our Collection C extension fundraising spherical.
We proceed our mission of bringing ease-of-use and uncompromised safety to your digital worth.
Learn what our CEO @_pgauthier has to say:https://t.co/JSHyi5jKIQ pic.twitter.com/aGi2FhOXCs
— Ledger (@Ledger) March 30, 2023
“In the present day, Ledger introduced our funding spherical. I’m grateful for our long-term traders’ continued help, and I welcome the brand new traders backing the present simple revolution of worth and {hardware}. These funds will speed up our mission to carry a brand new technology of safe shopper units to a whole bunch of hundreds of thousands exploring crucial digital belongings and blockchain-enabled know-how,” Ledger CEO & Chairman Pascal Gauthier mentioned in a statement.
New backers for the spherical embrace VaynerFund, True World Ventures, Cité Gestion SPV, and Digital Finance Group. Returning traders included Cathay Innovation, Draper Dragon, Morgan Creek, and Cap Horn.
Ledger eyeing subsequent technology {hardware} pockets
The funding spherical comes amid rising demand from crypto holders for units that supply subsequent technology degree storage and safety for the digital asset trade.
Based on Gauthier, the world is getting into a brand new period of Web of Worth and billions of individuals will need entry to units which are constructed for the decentralised Web of Worth – on this case {hardware} wallets that transcend the essential security measures.
The current launch of Ledger’s new {hardware} pockets Ledger Stax is the start of that journey into the way forward for “next-generation” {hardware} wallets. Stax’s designer is iPod and iPhone co-inventor & designer Tony Fadell.
Ledger was based in 2014, and one among its hottest USB-type {hardware} wallets is the Ledger Nano S, Ledger Nano S Plus and Nano X. The corporate additionally provides Ledger Stay on desktop and cell.