Blockchain start-up 5ire said it raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM, making it the 105th unicorn in India and the 20th this year.
The firm said the investment made it the fastest-growing blockchain unicorn in India, valued at $1.5 billion.
5ire would use the funds to expand business and extend its footprint across three continents — Asia, North America, and Europe. It plans to make India the hub of operations and core area of focus. 5ire aims to hire the talent in the industry across functions like product and engineering.
“We are on a mission to embed sustainability into blockchain,” said Pratik Gauri, chief executive officer and founder of 5ire.
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The company was founded in August 2021 by Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila. 5ire had earlier raised $21 million in its seed round at a valuation of $110 million with participation...
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