French startup producing cryptocurrency equipment Ledger announced the funding round series B $ 75 million for revitalization and meet the demand for products such as their hardware bitcoin wallet.
The Paris company Ledger, which develops security solutions for cryptocurrencies and blockchain collected 61 million euros (75 million dollars) from investors at the stage of the series held company with venture capital from Draper USA Espirit. “This stage is one of the most traditional investment series In the blockchain and the technology associated with crypto-currencies today (except ICO)”, – stated in the message Ledger.
The money will be used to Finance expansion activities Ledger, both in terms of global presence and for his team. Planned funding activities on employment, research and development, as well as activation to increase productivity to meet the demand for the products of the company.
The company Ledger was founded in 2014. Now it has offices in Paris and Vierzon in France and in San Francisco, which employs 82 people. Operating income already profitable cryptocurrency startup in 2017 amounted to 46 million euros ($56 million) in sales in the United States, Europe and Asia, compared to 600 000 euros in 2016, as reported by Eric Sarcevic, CEO of Ledger. Purpose Ledger for this year is from 3 to 6 million hardware wallets. According to the head of the company, to date, the startup has sold over a million wallets.
Besides catering to retail owners of bitcoins in the Ledger intend to make a profit from new customers – financial institutions. Details are still unknown, but the decision “Ledger Vault” will allow banks, hedge funds, trust companies, family office, and the like to control the cryptocurrency assets through a “server” architecture.
In an interview with Bloomberg, the head of the Ledger also added:
“Over time we will be able to install our software on hardware from other manufacturers – this is a hint to our future road map. Ultimately, we want to be the technology giant that provides protection for bitcoin and blockchain infrastructure.”
Among other investors Draper Network Venture Funds, including Draper Associates and Boost VC, along with FirstMark capital, Cathay Capital and Innovation Korelya. Existing investors, such as Digital Currency Group, also participated in this funding round.
Stressing the need to “plenipontiary of” protecting, managing Director of the company-investor FirstMark Capital’s Matt Turck said:
“Despite possible price fluctuations on a separate digital currency and tokens, the total of cryptocurrency and blockchain space has emerged as a fundamentally new paradigm, the importance of which will only continue to grow. Given the enormous amounts of money coming into the ecosystem, the greatest need at this stage is to “plenipontiary” protective infrastructure”.
The investment series In the Ledger followed the initial funding, held in 2015, which collected 1.3 million euros. In April 2017 the company Ledger announced the closing of A series, which grossed $ 7 million. Since its founding in 2014, the cryptocurrency startup has managed to raise $ 85 million.