Hardware Wallet Maker Ledger Nets $75 Million in Series B Funding

Ledger, the France-based maker of hardware cryptocurrency wallets, has raised $75 million in Series B funding.

Consistent with an assertion these days, the brand new round changed into led by using the U.okay.-established investor Draper Esprit, and additionally included Draper assignment community, FirstMark Capital, Cathay Innovation, and Korelya Capital. present traders such as CapHorn invest, GDTRE and digital currency organization also participated within the round.

Ledger said it plans to use the new cash primarily to scale its business amid the growth in the popularity of cryptocurrencies.

Eric Larcheveque, CEO of Ledger, commented:

"These funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally."

Within the launch, the organisation additionally said that it's far developing a new garage answer for dealing with crypto belongings, named the Ledger Vault. The product will be aimed at institutional traders such as banks and hedge price range.

Released in 2014, Ledger gives a range of hardware wallets for storing cryptocurrency private keys. the brand new funding comes almost a yr after the firm closed a $7 million collection A round in March 2017.