The company behind Ledger, one of the most known hardware wallets in the market, has raised $75 million dollars in a funding round. The company got financed through a Series B round, the second stage of financing for a company. The European venture capital firm Draper Esprit led the financing round.
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The company announced on January the 18th that the main investors, aside Draper Esprit, were Draper Venture Network, FirstMark Capital, Cathay Innovation, and Korelya Capital. Ledger is planning to keep expanding the company amid high demand and cryptocurrency market expansion.
It is important to mark that the prices of the Ledger Nano S increased after Christmas due to the constant demand that the enterprise was facing from all over the world. At the moment, the company offers its flagship product for €94,8 including taxes and shipping. Ledger is offering the Nano S on pre-order and the next batch is scheduled for March the 26th.
“These funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally,” commented Ledger’s Chief Executive Officer Eric Larcheveque. “We initially designed our Ledger hardware wallet as an enabler for the blockchain revolution. Three years later and with Series B, we are reaching a significant milestone in our path to build a technological giant in the promising space of cryptocurrencies,” he said.
Furthermore, the company is developing a new storage product for bigger investors like enterprises and banks. With the influx of important institutions to the cryptocurrency market, and possibly governments in the middle term, there will be increased demand for these products.
With this new investment, Ledger becomes one of the most important enterprises in the Blockchain sector. Its future looks bright as long as the blockchain and cryptocurrency space keep growing.
The company is hardly investing in solutions for keeping cryptocurrencies safe. During the last years, several cryptocurrency exchanges and mining pools were hacked. Different users lost an important amount of their savings because of the lack of a strong security policy from these companies.