As the digital asset market grapples with regulatory turmoil, Ledger’s famous catchphrase, “not your keys, not your coins,” has proven increasingly popular with his clientele.
On March 30, Ledger, the firm behind hardware wallets like the Nano S and Nano X, announced the successful close of its Series C extension fundraising round, raising a total of $109 million to optimize and expand the production of wallets.
Ledger is proud to announce our Series C extension fundraising round.
We continue our mission to bring ease of use and absolute security to your digital value.
Read what our CEO @_pgauthier You have to say:https://t.co/JSHyi5jKIQ pic.twitter.com/aGi2FhOXCs
— Ledger (@Ledger) March 30, 2023
Thanks to the financing, Ledger has reached a valuation of 1,300 million euros (almost 1,418 million dollars). According According to Bloomberg, the French hardware company plans to have a second and third closing in April, due to high interest from investors.
Institutional investors participating in the latest funding round include Morgan Creek, Cité Gestion SPV, Digital Finance Group, VaynerFund, True Global Ventures and 10T.
Ledger wants to grow despite regulatory uncertainty
Despite regulatory uncertainty in the digital asset industry, Ledger continues to thrive, expanding to the point where it now protects nearly 20% of the world’s cryptocurrencies.
in a official statementPascal Gauthier, Ledger’s president and CEO, expressed his gratitude to the investors who have supported the company’s growth, welcoming new ones who will help the company lead the “undeniable hardware and value revolution.”
According to Gauthier, the funds raised will accelerate the company’s mission to distribute its devices to hundreds of millions of people in the crypto ecosystem. These funds will catalyze a new generation of devices built with security in mind when managing digital assets and other products using blockchain technology.
“Today, Ledger announced our funding round. I am grateful for the continued support of our long-term investors and welcome new investors backing today’s undeniable value and hardware revolution. These funds will accelerate our mission to bring a new generation of secure consumer devices to hundreds of millions exploring critical digital assets and blockchain-enabled technology.”
Gauthier stated that despite the various challenges facing the digital asset industry, Ledger remains a “safe haven for clients”, particularly in periods of volatility and regulatory confusion, a fact that is evident in the increase in demand for hardware wallet devices.
Leadership needs innovation
Ledger is committed to continuous innovation and maintaining its position in the market, Gauthier explained, emphasizing the need for secure hardware devices that cannot be supplanted by mobile phones due to their specific security-focused features.
For now, Ledger’s main focus is improving the user experience through software, enabling the integration of new cryptocurrencies, blockchains, services, and other tools to transform Web3.
As reported by crypto potatothe company’s latest product, the Ledger Stax, will go on sale sometime in April 2023 for around $279.
As the image above suggests, the new wallet features a modern and innovative iPhone-like design, the result of Ledger’s partnership with Tony Fadell, co-creator of the iPod and iPhone.
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