The past year has seen a tremendous rise in the value of the overall cryptocurrency market and with that came the huge mainstream uptake of Bitcoin and other cryptocurrencies especially after the introduction of Bitcoin futures contracts. As more people have joined the market, pumping in new money, demand has increased for better and more secure storage of funds. Plus it’s well known in the crypto space that storing huge funds in online wallets or exchanges is a bad idea. This has led to empty shelves with increasing demand for more cold hardware wallets across the globe.
What is Ledger?
Ledger, a Blockchain security company founded in 2014, yesterday announced its decision to invest in up-scaling and facilitating better service delivery in response to the high demand, detailing that it has secured $75 million towards this course of action. The Paris-based company has been planning the launch of the ledger vault that will provide new solutions to financial institutions as well. Furthermore, the company boasts of over one million in sold hardware wallets with a global outreach of about 165 countries. It was only a few months ago that the company announced partnerships with world leading technology companies including Intel and now, the company has released a press release that details more partnerships and source of the$75 million investments, with Draper Esprit ( a capital markets company based in London) being its leading investment partner.
Ledger’s Series B funding and investment partners
The statement by the company also indicated that this was only a Series B funding with the Series A having bagged $7 million already in 2017 march. Additional funding partners apart from Draper Esprit that made part of the current round included Draper Dragon, Draper Associates, FirstMark Capital, Korelya Capital, Cathay Innovation and Boost VC.
According to Draper Esprit CEO,
Blockchain, as evidenced by crypto assets, is a truly revolutionary technology. Security will be paramount to its success…
The CEO expressed praise for the company saying that he believes “Ledger has built the world’s best security platform to manage private keys for all Blockchain and crypto asset applications”.
In addition Eric Larchevêque (the Ledger CEO) also applauded the upscale project mentioning that “funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally”. He expressed delight in the joint effort of global investors mentioning Draper Esprit as “a truly global group of investors who will support the company as it grows rapidly”
Where do you store your cryptocurrencies and tokens? Have you ever used one of Ledger’s hardware wallets? Share your thoughts and opinions on the move by ledger to up-scale its services in the comment section below!