City Marshland Financial News

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blockchain company 5ire has raised $100 million at a valuation of $1.5 billion from UK-based SRAM & MRAM Group. The company was founded in August last year, by Pratik Gauri, Prateek Dwivedi, and Vilma Mattila. 5ire had earlier raised a funding of $21 million in its seed round at a valuation of $110 million in October last year, with participation from both private and institutional investors like, Marshland Capital, Launchpool Labs, Moonrock Capital, and other investors. “Our valuation jump has come from the fact of 12 pending patents that we have and all the other proof of benefit consensus that we've built… The UK-based conglomerate own about 800 hospitals a lot of real estates. So we will also get access to a lot of relationship capital,” said cofounder Gauri.

An Indian blockchain company 5ire, recently raised $100 million in a Series A round of funding from UK-based Sram and Mram. The company with a $1.5 billion valuation has suddenly emerged as the latest addition to the Unicorns in India.

A blockchain ecosystem that integrates sustainability, technology and innovation initiatives to build the 5th industrial revolution, 5ire aims to incentivise practices that align with the UN’s Sustainable Development Goals (SDGs) to move from the 4th to the 5th industrial revolution. Further to this, 5ire supports decentralised autonomous organisations (DAOS) and working groups to hasten the implementation of the SDGs.

An ambitious sustainability-based blockchain project has secured $100 million in a Series A funding round to drive its development.