• Ledger’s final spherical was at a valuation of 1.3 billion euros.
• The startup will use the funds to develop a brand new era of {hardware} wallets, constructing on its newest Ledger Stax providing.
• New traders within the Collection C enlargement spherical included VaynerFund and True World Ventures.

Ledger, the main maker of cryptocurrency {hardware} wallets, raised €100 million ($109 million) in its Collection C extension spherical.

As Bloomberg reported on Thursday, the French startup was valued at 1.3 billion euros ($1.4 billion), which was the valuation in the course of the earlier funding spherical that closed in June 2021.

Ledger is proud to announce our Collection C enlargement funding spherical.

We proceed our mission to carry uncompromising ease of use and safety to your digital worth.

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

— Ledger (@Ledger) March 30, 2023

“At this time, Ledger introduced our funding spherical. I’m grateful for the continued help of our long-term traders and welcome new traders who help the present plain revolution in worth and materials. These funds will speed up our mission to carry a brand new era of safe client gadgets to lots of of thousands and thousands of individuals exploring crucial digital property and blockchain-enabled expertise.stated Pascal Gauthier, CEO of Ledger, in an announcement.

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

Ledger eyes next-gen {hardware} pockets

The funding spherical comes amid rising demand from crypto holders for gadgets that present next-generation storage and safety for the digital asset business.

In keeping with Gauthier, the world is getting into a brand new period of the Web of Worth and billions of individuals will need entry to gadgets designed for the decentralized Web of Worth – on this case, {hardware} wallets that transcend fundamental safety features.

The current launch of Ledger’s new {hardware} pockets, Ledger Stax, is the beginning of this journey into the way forward for “subsequent era” {hardware} wallets. Stax’s designer is co-inventor and designer of the iPod and iPhone, Tony Fadell.

Ledger was based in 2014, and one in all its hottest USB-like {hardware} wallets is the Ledger Nano S, Ledger Nano S Plus, and Nano X. The corporate additionally presents Ledger Reside on desktop and cell.