Ledger raises 0 million in Series C funding round and is now a .5 billion company
As announced in a press release on Thursday, hardware wallet maker Ledger has just closed a massive Series C funding round led by digital asset fund 10T Holdings. Ledger was able to raise $380 million in the funding round that also got interest from Cathay Innovation, Draper Associates, DCG, Korelya Capital and Wicklow Capital, among others.
The Series C round leaves Ledger with an implied company valuation of over $1.5 billion, which can be considered a clear statement on the company’s rapid and accelerating growth.
The new resources will be used for further innovation of its hardware products, for new services for decentralized finance solutions, while also expanding corporate capabilities.
Ledger’s latest round of fundraising followed a $7 million Series A funding round in 2017 and another $75 million was raised via a Series B in 2018.
10T Holdings hat led the latest round of fundraising was launched in the beginning of 2021 by investor and entrepreneur Dan Tapiero. He did so in a bid to capture new capital from institutional investors.
Tapiero, who was announced to be joining Ledger’s board, said:
“We believe Ledger is the premier security company and premier brand name in the cryptocurrency/blockchain space.”
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Source: igaming
