French cryptocurrency hardware wallet maker Ledger is looking to raise new capital after raising $380 million in June 2021, according to sources familiar with the matter. Hardware wallet company Ledger is reportedly looking to raise at least $100 million from strategic investors.
Crypto Hardware Wallet Maker Ledger Reportedly Seeks $100 Million in Funding
According to Bloomberg, the French crypto hardware wallet maker Big book is looking for more funding after the company’s series C last June. At the time, Ledger raised $380 million in a financing round led by 10T Holdings, giving Ledger a shipping value of around $1.5 billion.
Founded in 2015 by Éric Larchevêque and Thomas France, Ledger has become one of the top crypto hardware wallet manufacturers worldwide. Ledger competes with other popular cryptocurrency hardware wallet makers like Trezor, Ellipal, Coolwallet, Safepal, and Coinkite.
At report published on July 30 said that “a person familiar with the plan” said that Ledger “is in talks to raise at least $100 million in a financing round that will give it a higher valuation.” Bloomberg’s Gillian Tan, Hannah Miller, Anna Irrera, and Olga Kharif contacted Ledger and the company declined to comment on the alleged funding round.
Crypto Hardware Wallet Market Expected to Grow to $1.72 Billion by 2030, Research Says
Ledger sells on Nano S Plus Kab with Nano X Kab wallet hardware series for prices between $79 to $149 before tax. Both wallets are non-custodial cryptocurrency hardware wallets that can store, send and receive dozens of digital currencies. Talk of raising Ledger’s ostensible capital to $100 million follows recently Straits Research Report which shows the hardware wallet market is expected to grow to $1.72 billion by 2030.
Market intelligence firm Straits Research says the Asia-Pacific region represents the highest market share of hardware wallets worldwide and the highest growth potential is also in the region. While Ledger enjoyed a capital injection of $380 million in June 2021, in the summer of the company suffer blowback stemming from some information leak linked to customer data. At that time, scammers were the news attack existing Ledger customers to steal private seeds.
Since then the company has continued to grow and last week Ledger Live, the company’s original software program added Cardano (THERE IS) token support with the ability to manage 100 Cardano-based tokens. THERE IS support is there used in June this French-based hardware wallet manufacturer introduced colorized Nano S Plus and Nano X wallet series. New color names were chosen by the community and include “Mystic White, BTC Orange, Navy Blue, Ice, Cosmic Purple, and Blazing Orange.
What do you think about the report that says Ledger wants to raise $100 million from investors? Let us know what you think about this subject in the comments section below.
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