Ledger, a blockchain hardware wallet firm, has secured an impressive $108 million in fresh capital as part of its ongoing Series C funding round. The company aims to leverage this funding to accelerate its development plans and augment its product offerings in order to cater to a broader range of customers.
10T, CapHorn Invest, Morgan Creek Capital, and Cathay Innovation have invested in the series C funding round. Additional participation was recorded from True Global Ventures, Digital Finance Group, Cite Gestion SPV, and VaynerFund.
How will the new funding help Ledger expand its offerings?
The recently acquired funds will enable Ledger to expand its product portfolio and cater to a more significant customer base. The company’s primary objective is to create innovative products and services that fulfill the requirements of its users and other individuals dealing with cryptocurrencies. Moreover, the fresh capital injection will be utilized to grow Ledger’s team, providing enhanced customer support and overall product experience.
Ledger plans to enhance the user software experience by integrating new coins, blockchains, services, and features into Ledger Live and by providing ease of use to your Web3 experience, as demonstrated by the recent launch of Ledger Extension.
What is Ledger, and why is it important for blockchain gamers?
For those unfamiliar with the term, Ledger offers secure hardware wallets that provide a safe storage option for digital assets, such as Bitcoin and Ethereum. This makes it crucial for blockchain gamers who wish to protect their cryptocurrencies from cyber-attacks and theft. Their hardware wallets are designed to store private keys offline, ensuring they remain out of reach of online hackers.
“As we enter this new era, the smartphone in your pocket and the laptop on your desk lack fundamental security properties. These devices were built to produce and share content in a centralized Internet of Information, not to own and trade assets in a decentralized Internet of Value. My point is clear: you need a new generation of hardware to explore this next chapter.”
Ledger CEO Pascal Gauthier