In its Series C funding round, Ledger, a Paris-based company that produces hardware cryptocurrency wallets, raised an impressive $108.8 million. Ledger uses the funds to accelerate the mission of bringing secure consumer devices to millions of users. Thus exploring critical digital assets and blockchain-enabled technology.
Ledger’s Series C funding round saw participation from both existing and new investors. Those include True Global Ventures, Digital Finance Group, and VaynerFund. Existing investors were 10T, Cité Gestion Private Bank, Cap Horn, Morgan Creek, Cathay Innovation, Korelya Capital, and Molten Ventures. Goldman Sachs Bank Europe SE acted as the placement agent, with Jones Day as legal advisors.
The collapse of several major centralized companies has prompted many digital asset owners to seek safety in cold wallets. That despite the current difficult funding environment caused by regulatory and legal issues. Ledger raised $387.4 million in 2021, and it is valued at $1.42 billion.
Ledger now stores more than 20% of the world’s crypto and 30% of the world’s non-fungible tokens (NFTs). Its future plans include upgrading software as the top priority, integrating new coins, blockchains, services, and features into Ledger Live. Enabling an increasing range of corporations to leverage digital value.
Pascal Gauthier believes that within the next five to ten years, the rise of the Internet of Value will reshape how billions of people own and manage their asset. In conclusion, redefining how we interact with the internet, the role of intermediaries, the global economy, and every industry. We need a new generation of hardware for this, and that’s why Ledger unveiled its Ledger Stax in December, designed by Tony Fadell, the co-inventor and designer of the iPod and iPhone.
Overall, Ledger’s Series C funding round is a significant boost for the company. It will qualify Ledger to accelerate its mission to bring secure consumer devices to millions of users.