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Ledger Taps $1.4 Billion Valuation After Securing $109 Million Funding

Ledger Taps $1.4 Billion Valuation After Securing $109 Million Funding

Amid regulatory uncertainty in the digital asset market, Ledger is holding strong with its catchphrase “not your keys, not your coins” proving increasingly popular among its customers. Ledger, the company behind hardware wallets like Nano S and Nano X, announced the successful closure of its Series C extension fundraising round on March 30th, raising $109 million to expand and optimize wallet production. As a result, Ledger now holds a valuation of €1.3 billion (almost $1.418 billion). Institutional investors participating in the funding round included Morgan Creek, Cité Gestion SPV, Digital Finance Group, VaynerFund, True Global Ventures, and 10T. Despite the challenges facing the digital asset industry, Pascal Gauthier, Chairman & CEO of Ledger, reassured the public that Ledger remains a safe haven for customers. The funds raised will accelerate the firm’s mission to distribute secure consumer devices for managing digital assets and blockchain-enabled technology.

Continuous Innovation is Key to Maintaining Leadership

Gauthier also emphasized the need for secure hardware devices rather than smartphones, as Ledger is committed to continuous innovation and maintaining its market position. Their primary focus for now is on enhancing user experience via software by enabling the integration of new cryptocurrencies, blockchains, services, and other tools to transform Web3. As reported by CryptoPotato, Ledger’s latest product, Ledger Stax, boasts a modern and innovative design similar to the iPhone, a result of the company’s collaboration with Tony Fadell, co-creator of the iPod and iPhone. The new wallet is set to go on sale next month for around $279.

Looking to the Future

The funds raised will enable Ledger to distribute its devices to millions of people in the crypto ecosystem, as the demand for hardware wallet devices increases. Ledger aims to lead the “undeniable revolution of value and hardware” in a market grappling with regulatory confusion.