5ire, a fifth generation level 1 blockchain network and the world’s first and only sustainable blockchain, has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM.
This investment makes 5ire the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world, valued at $1.5 billion.
5ire was founded by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila, in August 2021.
5ire raised a funding of $21 million in its seed round at a valuation of $110 million with participation from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, and amongst many other investors.
The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations and core area of focus. 5ire will continue to invest in strengthening its blockchain further and work towards ensuring this decentralised technology benefits a larger base globally. Additionally, 5ire aims to hire the best talent in the industry across functions like product, engineering, marketing etc.
