Blockchain platform 5ire raises $100 mn, becomes 105th unicorn in India

Business News: The startup blockchain platform 5ire raises the funding of $100 million from the UK-based conglomerate SRAM & MRAM and becomes the 105th new unicorn in the country.

The Indian Startup 5ire was founded by the Indian Origin entrepreneurs Pratik Gauri and Prateek Dwivedi along with web3 financer Vilma Mattila last year, August 2021.

The company said, with this funding they will set their footprints across Asia, North America, and Europe along with the business expansion in India. The funding will be utilized for the business expansion nationally as well as internationally.

The company has become the world’s first and only sustainable unicorn born out in India within just 11 months. That is completely incredible and a big achievement for the company as well as for the country. The company’s aim is to hire the best talent in the industry to work on the product, marketing, engineering, etc. they will continue to invest in blockchain further and works towards decentralized technology which benefits a larger base globally.

The 5ire company earlier raised the funding of $21 million in its seed round at a valuation of $110 million with the participation of private and institutional investors like Alphabit, Marshland Capital, Moonrock capital, Launchpool labs, and among all others.

Dr. Sailesh Lachu Hiranandani, Chairman of the SRAM & MRAM group said that being a scientist, I have always believed in finding a solution or better ways to do things, and here 5ire is also committed to finding a solution for the 17 UN sustainability development goals SDGs.