{Hardware} pockets maker Ledger raises $109 million in collection C spherical

• Ledger’s final spherical was at a €1.3 billion valuation.
• The startup will use the funds to develop a brand new technology of {hardware} wallets, constructing on its newest provide Ledger Stax.
• New buyers within the collection C extension spherical included VaynerFund and True International Ventures.

Ledger, the main cryptocurrency {hardware} pockets maker, has raised €100 million ($109 million) in its collection C extension spherical.

As reported by Bloomberg on Thursday, the French startup was valued at €1.3 billion ($1.4 billion), which was the valuation throughout the earlier financing spherical closed in June 2021.

Ledger is proud to announce our Collection C extension fundraising spherical.

We proceed our mission of bringing ease-of-use and uncompromised safety to your digital worth.

Learn what our CEO @_pgauthier has to say:https://t.co/JSHyi5jKIQ pic.twitter.com/aGi2FhOXCs

— Ledger (@Ledger) March 30, 2023

“Immediately, Ledger introduced our funding spherical. I’m grateful for our long-term buyers’ continued help, and I welcome the brand new buyers backing the present plain revolution of worth and {hardware}. These funds will speed up our mission to carry a brand new technology of safe shopper units to a whole bunch of thousands and thousands exploring crucial digital belongings and blockchain-enabled know-how,” Ledger CEO & Chairman Pascal Gauthier stated in an announcement.

New backers for the spherical embody VaynerFund, True International Ventures, Cité Gestion SPV, and Digital Finance Group. Returning buyers included Cathay Innovation, Draper Dragon, Morgan Creek, and Cap Horn.

Ledger eyeing subsequent technology {hardware} pockets

The funding spherical comes amid rising demand from crypto holders for units that provide subsequent technology degree storage and safety for the digital asset trade.

In line with Gauthier, the world is getting into a brand new period of Web of Worth and billions of individuals will need entry to units which can be constructed for the decentralised Web of Worth – on this case {hardware} wallets that transcend the essential security measures.

The current launch of Ledger’s new {hardware} pockets Ledger Stax is the start of that journey into the way forward for “next-generation” {hardware} wallets. Stax’s designer is iPod and iPhone co-inventor & designer Tony Fadell.

Ledger was based in 2014, and one among its hottest USB-type {hardware} wallets is the Ledger Nano S, Ledger Nano S Plus and Nano X. The corporate additionally provides Ledger Dwell on desktop and cell.