Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
Gauthier: “When market concerns heighten, people rush to purchase Ledger devices and use Ledger Live transaction services on a daily basis.”
Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3 billion. The round was led by investors including Digital Finance Group, True Global Ventures and Cité Gestion SPV.
The company will use the funds to expand its distributor network and develop new products. The firm’s hardware wallets store users’ private keys on secure hardware, making them safer than storing digital assets on exchanges, which have been prone to hacks. The demise of crypto exchanges such as FTX has also made investors nervous about leaving their funds on digital platforms. (Bloomberg)
Ledger’s revenue for its app to buy and sell cryptocurrencies has grown 200% YoY, and the company stores 20% of the world’s cryptocurrencies and 30% of the world’s non-fungible tokens. The firm has partnered with luxury brands including Fendi and Hublot and launched a platform for artists and brands to release their NFTs. The company’s latest hardware wallet was designed by Tony Fadell, co-founder of Nest and the builder of the iPod and iPhone.
CEO Pascal Gauthier said in a blog that the rise of the Internet of Value would reshape how people own and manage their assets, and that Ledger’s role would be to provide a new generation of secure consumer devices to millions.
“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,” Gauthier wrote.
Related Story: Ledger Launches Stax, A Hardware Wallet Designed By Tony Fadell Of iPod Fame
Latest Alternative Investment News
FinTech: Adyen Launches ‘Payout Services’ For Faster Payouts To The Gig And SMB Economies
Adyen, a global financial technology platform, has launched Payout Services, allowing its customers to make instant payouts to their users or partners. By connecting directly to real-time payment rails, Adyen’s…
Digital Assets: Oracle Red Bull Racing Seeks To Digitize Engagement With Fans On The Sui Blockchain
Oracle Red Bull Racing has announced a multi-year partnership with software company Mysten Labs to collaborate on Sui, which will serve as the team’s Official Blockchain partner. Sui, a Layer…
Venture Capital: Bold, L’Oréal’s Venture Capital Fund, Buys A Stake In Exotic Cosmetic Ingredient Maker Debut
L’Oréal’s (EPA: OR) corporate venture capital fund, BOLD, has announced a minority investment in Debut, a US biotech company specializing in the discovery, formulation, and manufacture of novel ingredients and…
Artificial Intelligence: In Flight Simulation, An AI Drone Tries To Kill Its Own Handler
During a simulated test at a London summit, an AI-controlled drone turned against its human operator, raising significant ethical concerns. Air Force Colonel Tucker “Cinco” Hamilton shared the incident, which…