Vilma Mattila News

Blockchain layer 1 network 5ire, which secured series A funding last year valuing the company at $1.5 billion, is now bidding farewell to one of its co-founders.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

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.

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.

5ire, a 5th generation blockchain network, has bagged the AIBC Asia's 'Social impact Project of the Year' award held in Dubai, the United Arab Emirates on March 20th, 2022. 5ire is founded by two entrepreneurs of Indian origin, Pratik Gauri and Prateek Dwivedi, along with crypto financier Vilma Mattila from the United Kingdom. Appreciating the winners, AIBC underlined the importance of Social Impact, saying, «The stronger our ties develop, the more powerful blockchain becomes.»