Crypto hardware company Ledger has secured €100 million ($109 million) funding in its latest funding round at the $1.4 billion valuation for the company.
Successful Closure Of Series C Extension
Hardware wallet manufacturer Ledger has conducted late-stage funding in its Series C round to raise over $100 million. The company had maintained its $1.4 billion valuation from its last funding round in June 2021, when it raised around $380 million. According to reports, the company will conduct two more rounds in 2023.
On March 30th, the team announced the successful closure of its Series C extension fundraising, which will be used to optimize and expand its wallet production.
The team tweeted,
“Ledger is proud to announce our Series C extension fundraising round. We continue our mission of bringing ease-of-use and uncompromised security to your digital value.”
Some of the leading institutional investors contributing to this funding are Morgan Creek, Cité Gestion SPV, Digital Finance Group, VaynerFund, True Global Ventures, and 10T.
Ledger Thriving Amidst Market Troubles
The company is behind the uber-popular hardware wallets like the Nano S and Nano X. Despite regulatory concerns plaguing the industry, the company’s continued success indicates that digital security is still a profitable niche in the market. The crypto-security firm had previously launched the Ledger Stax hardware wallet in the middle of the FTX controversy with much success. Today, Ledger hardware wallets protect 20% of all the cryptocurrency in the world.
New Generation Of Hardware
In an accompanying blog post published by the company, CEO and Chairman Pascal Gauthier wrote about Ledger’s plan forward.
“Within the next five to ten years, my conviction is that the rise of the Internet of Value will reshape how billions of people own and manage their assets, redefining how we interact with the Internet, the role of intermediaries, the global economy, and every industry.”
He talks about introducing a new generation of hardware that would encompass even smartphones and laptops. Gauthier indicated that the company would be using the funds from the latest round to enhance the Ledger software experience. He plans to integrate more cryptocurrencies, blockchains, services, and features into Ledger Live.
CEO’s Plans For Ledger Enterprise
Gauthier also addresses the business side of affairs. The company’s B2B division, Ledger Enterprise, will be working on empowering more corporations to use the proper governance and security frameworks in their digital initiatives.
“As the Internet of Value gradually goes mainstream, our Ledger devices will allow you to manage an ever-expanding range of tokenized assets, including your value, identity, data, stocks, and much more, enabling you to connect with complete ownership.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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