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• Ledger’s valuation after the funding round stands at $1.5 billion.
• The Fund will improvise their hardware products and add new products to their line of service.
• Ledger aims to enhance its support businesses using the Ledger Enterprise Solutions.
Ledger, in a recent series C funding round, has raised $380 million. This brought the cryptocurrency hardware and security company close to an evaluation of $1.5 billion. The funding round was led by 10T holdings. Other series B investors like Cathay Innovation, Draper Associates, Draper Dragon, Draper Esprit, DCG, Wicklow Capital, and newcomers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies also took part in the funding round.
What Ledgers Plans to do With its $380 Million Fund?
According to Ledger’s recent blog post, the Series C funding round will facilitate the company to improvise its hardware products and add new products to its service line. Further new transactional services like decentralized financial solutions will be integrated into Ledger Live. New third-party services will also be added through the ongoing development of their very own OS. Moreover, Ledger aims to enhance its support businesses using the Ledger Enterprise Solutions. Ledger plans to specifically have a global impact as they continue to amplify their operational and geographic footprint.
Ledger Wants to Reshape Itself as a Secure Gateway
In a statement, Ledger’s CEO Pascal Gauthier said that the Series C announcement would help the company transition from the leading digital asset security company to a secure gateway to the entire digital asset ecosystem. He further added that the industry is rapidly becoming mainstream and is reshaping the traditional financial sector. Ledger wants to diversify its services in NFTs, real estate, and other blockchain use cases that can be integrated into its services.
Earlier this year, between January and March, Ledger’s revenue grew by a massive 500%. Ledger once again highlighted its goal to empower users to buy, sell, swap, borrow, and lend digital assets leveraging the Ledger Live platform in the blog post. Along with their hardware services Ledger is keen on offering the best-in-class security and a seamless user experience.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
