The blockchain platform 5ire is expanding its business with a fundraising of 100 million dollars

5ire – a London based one blockchain company – secured a $ 100 million fundraiser, increasing its value to $ 1.5 billion.

Become a unicorn in less than a year

5ire’s latest fundraiser was led by SRAM & MRAM Group (a leading international conglomerate headquartered in London). The company promised to use the Series A financing to strengthen its presence in North America, Europe and Asia. In addition, these $ 100 million will help the company’s ambitions to welcome more members into its 100-employee team.

It is worth noting that 5ire’s previous funding took place in October last year when it raised $ 21 million worth $ 110 million. Eight months later, that number has grown to $ 1.5 billion. Co-founder Pratik Gauri talked about the rapid development:

“Our appreciation jump has come from the fact of 12 pending patents that we have and all the other evidence of utility consensus that we have built … The British conglomerate owns around 800 hospitals and a lot of property. So we will also have access to a lot of relationship capital. “

The leader further assured that 5ire is on a mission to “change the current paradigm” and show society that blockchain technology and cryptocurrencies are not only features that can benefit investors, but also benefit the global financial ecosystem.

Other recent collections

The current bear market seems to be an appropriate time for some companies to expand their businesses and secure multimillion-dollar investments. Last month, the US-based crypto platform – FalconX – raised $ 150 million in funding led by B Capital and GIC. As a result, the valuation lost $ 8 billion.

FalconX’s CEO – Raghu Yarlagadda – said the organization will use the funds to develop its services and hire more specialists.

The blockchain gaming platform – Animoca Brands – also joined the club by securing $ 75 million in a fundraiser led by Liberty City Ventures, Winklevoss Capital and Soros Fund Management. The company’s valuation rose to almost $ 6 billion after the initiative.

Last but not least, venture capital firm Protagonist launched a $ 100 million fund that will be distributed to early-stage blockchain companies, new gaming companies and entities supporting infrastructure projects in the digital asset ecosystem.

The leader of Protagonist – George Bousis – believes that cryptocurrencies, blockchain technology and Decentralized Finance (DeFi) represent the future when they create a bridge between digital and physical assets. As such, companies should focus on these innovations:

“I think that’s where the future is headed, a world where human behavior and experience are not changing, but should only be improved.”