Blockchain startup 5ire secures $100 million capital commitment from GEM

The platform plans to use the fresh funds for the expansion of the ecosystem, which involves liaising with government stakeholders in India and upcoming international markets, invest in technology and resources, hiring, and enhance adoption of 5ireChain.

5ire has been working diligently on the UN's Sustainability goals and partnering with nations across three continents as the first step in this direction.

By signing MOUs, 5ire has taken this first step in the public-private partnerships in India, Nigeria, and the United States to bring their technological solutions for sustainability, better governance, more just and transparent law enforcement, and more.

Prior to this capital infusion, 5ire’s valuation stood at $110 million upon receiving a funding of $21 million in its seed round from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, among other investors.