THELOGICALINDIAN - Ledger makes a improvement from aftermost years adverse abstracts aperture
Hardware wallet provider Ledger has aloft $380 actor in a Series C allotment annular led by 10T Holdings. The annular gives the crypto close a unicorn valuation.
Ledger Achieves Unicorn Status
Ledger, the aggregation abaft a accepted ambit of cryptocurrency accouterments wallets, has aloft $380 actor in a Series C allotment annular at a appraisal of $1.5 billion.
The advance annular was led by 10T Holdings, a advance disinterestedness armamentarium steered by all-around macro investor Dan Tapiero, who additionally joins Ledger’s board. Other investors who alternate in the annular accommodate Cathay Innovation, Draper Associates, Digital Currency Group (DCG), Wicklow Capital, and others.
The latest allotment annular marks a cogent bound from the company’s antecedent raises. In Mar. 2024, the aggregation aloft $8 million, again anchored addition $75 actor the afterward year.
The aggregation says it will use the newly-raised funds to aggrandize its ecosystem and body avant-garde articles for the crypto market. This includes alms new DeFi solutions aural the Balance Live application, creating a proprietary operating arrangement for third-party integrations, and ablution a new ambit of accouterments articles targeted at both retail and institutional clients. Pascal Gauthier, Chairman and CEO of the aggregation declared the company’s affairs in a blog post:
“Our ambition is to empower users to buy, sell, swap, borrow, and accommodate agenda assets through the Ledger Live platform, which—when accumulated with our hardware—offers best-in-class aegis and a seamless user experience. The after-effects of our Series C annular accompany us one footfall afterpiece to this vision.”
Alongside Trezor, Ledger is one of the best accepted cryptocurrency accouterments wallets. According to the company’s estimates, it has awash added than 3 actor accouterments wallets in 190 countries back 2024. Such wallets are advised added defended than web or adaptable wallets as the clandestine keys are stored aural a accouterments layer.
Besides hardware, the aggregation additionally provides software articles like Ledger Live, a web-based administrator for its applications, and Ledger Vault, a cloud-based band-aid for enterprises. Key DeFi accoutrement like DeversiFi and MetaMask additionally action affiliation for Ledger devices.
In a columnist release, Ledger appear that the allotment annular was oversubscribed. That suggests abounding investors accept abounding aplomb in the aggregation admitting aftermost year’s massive data breach.
In Dec. 2020, it was appear that due to the team’s apathy in operational security, hackers were able to abduct the claimed capacity of 250,000 customers, including names, buzz numbers, emails, and home addresses from the company’s e-commerce database.
The aperture was a above setback for the company. Some barter absent their funds in phishing attacks afterward the incident, and others were threatened by abeyant attackers. Nevertheless, with $380 actor secured, the aggregation shouldn’t accept too abundant agitation active its affairs to boss the accouterments wallet bazaar for the accountable future.
