Report: Cryptocurrency Hardware Wallet Maker Ledger Seeks $100 Million Funding Round

02 Aug 2022 By: Rohit Khandelwal
Report: Cryptocurren

According to sources familiar with the matter, the French 

Cryptocurrency hardware wallet company Ledger is looking to attract fresh investment after receiving $380 million in June 2021. 

According to reports, the hardware wallet company Ledger is seeking to raise at least $100 million from key investors.

According to a media outlet, French crypto hardware wallet manufacturer Ledger is looking for more funding following the firm's Series C funding in June. At the time, Ledger secured $380 million in a funding round headed by 10T Holdings, giving the company a market value of roughly $1.5 billion.

Ledger, founded in 2015 by Éric Larchevêque and Thomas France, has quickly established itself as one of the world's leading crypto hardware wallet manufacturers. Other prominent digital currency hardware wallet manufacturers include Trezor, Ellipal, Coolwallet, Safepal, and Coinkite.

Based on the July 30 report, sources familiar with the plans stated that Ledger is in discussions to raise at least $100 million in a funding round that will increase its valuation. The media outlet contacted Ledger, and the company refused to comment on the supposed fundraising round.

Hardware wallets from Ledger's Nano S Plus and Nano X series range in price from $79 to $149 (before taxes). Both wallets are non-custodial cryptocurrency hardware wallets capable of storing, sending, and receiving a wide range of digital currencies. Ledger's alleged $100 million capital raising talks follow a recent analysis estimating that the hardware wallet industry will rise to $1.72 billion by 2030.

According to a market research firm, the Asia-Pacific region accounts for the largest global market share for hardware wallets and has the most potential for future growth. Ledger received a $380 million capital infusion in June 2021, but that summer the company experienced fallout from a number of data exposures related to client information. At the time, it was claimed that scammers were assaulting current Ledger users in order to take their private seeds.

Since then, the company has continued to grow, and last week, Ledger Live, the company's native software application, launched support for Cardano (ADA) tokens, with the capacity to handle 100 Cardano-based tokens. This month, the France-based hardware wallet company unveiled colorized Nano S Plus and Nano X series wallets, which include ADA support. Mystic White, BTC Orange, Deepsea Blue, and Blazing Orange are among the new colour names picked by the community.

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