A $109 million funding round has been secured by Ledger, which plans to conduct two more this year.
Amidst regulatory confusion in the digital asset market, Ledger’s renowned catchphrase, “not your keys, not your coins,” has become increasingly popular.
It was announced on March 30th that Ledger, the firm behind hardware wallets like the Nano S and Nano X, had closed its Series C extension fundraising round, raising a total of $109 million.
Having secured funding, Ledger now has a valuation of €1.3 billion – about $1.41 billion). As a result of high investor interest, the french hardware company plans to hold a second and third closing in April.
Numerous institutional investors, including Morgan Creek, Cité Gestion SPV, Digital Finance Group, VaynerFund, True Global Ventures, and 10T, took part in the most recent investment round.
Despite regulatory uncertainty, Ledger wants to grow
Ledger continues to flourish despite regulatory uncertainty in the digital asset sector, now safeguarding almost 20% of the world’s cryptocurrencies.
Ledger’s chairman and CEO, Pascal Gauthier, thanked existing investors for helping the business expand in a public statement and welcomed new ones who will back the company as it leads the “undeniable revolution of value and hardware.”
The money raised, in Gauthier’s opinion, will aid the company in its goal of reaching hundreds of millions of participants in the cryptocurrency ecosystem. With the help of these funds, a new generation of blockchain-based gadgets will be created that are built with security in mind for the management of digital assets and other items.
“Our funding round was disclosed by Ledger today. I appreciate the support of our long-term investors and look forward to welcoming new investors who share my enthusiasm for the present hardware revolution and its indisputable worth. These funds will enable us to advance in our aim to provide hundreds of millions of individuals with innovative, secure consumer electronics who are interested in blockchain-based technologies and important digital assets.”
Gauthier asserted that, despite the various challenges confronting the digital asset industry, Ledger remains a “haven for customers,” particularly during times of volatility and regulatory uncertainty, as evidenced by the surge in demand for hardware wallet devices.
Leadership Requires Creativity
Gauthier emphasized the necessity for secure hardware devices that cannot be replaced by mobile phones because of their unique security-focused qualities and the commitment of Ledger to continual innovation and retaining its market position.
Ledger’s main objective at the moment is to enhance user experience through software, enabling the incorporation of new cryptocurrencies, blockchains, services, and other technologies to alter Web3.