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As per the latest reports from Bloomberg, Ledger seeks to raise funds worth $100 Million in funding. Founded in 2015, Ledger is a well-known manufacturer of hardware wallets. Éric Larchevêque and Thomas France are the co-founders of the hardware firms. Today, Ledger has positioned itself as the leading manufacturer of hardware in the world. Hardware wallets such as CoinKite, Trezor, Ellipal, Coolwallet, and SafePal are popular wallet makers that give fierce competition to Ledger.
Ledger Raised $380 Million In June
Ledger sells Nano S Plus and Nano X from $79 to $149. These wallets are non-custodial crypto hardware wallets designed to store, send and receive dozens of digital currencies. In June 2021, Ledger raised $380 million in a round led by 10T Holdings. As a result, its valuation touched $1.5 billion. Shortly after that, as an unfortunate consequence, the company’s customer data leaked. The firm suffered quite a blow. As per the reports from that time, scammers sought to steal customers’ private seeds.
The France-based hardware wallet however has only expanded after that. Last week, the company’s native software program, Ledger Live added support for Cardano(ADA) possessing the ability to manage 100 Cardano-based tokens. This month it introduced the Nano S Plus and Nano X series wallets. The community chose the color names that included “Mystic White, BTC Orange, Deepsea Blue, Ice, Cosmic Purple, and Blazing Orange.”
The Bloomberg report was published on 30th July. It revealed that Ledger is planning to raise $100 million in a funding round with the aim to reach a higher valuation. By 2030, the Ledger is expected to grow by $1.72 billion according to the recent Straits Research. The Straits research also mentions that the Asian-pacific region has the highest market share of hardware wallets around the world.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
