Blockchain startup 5ire raises $ 100 million from the British conglomerate SRAM & MRAM

5ire, blockchain startup has raised $ 100 million in Series A funding from the British conglomerate SRAM & MRAM worth $ 110 million. With the participation of both private and institutional investors such as Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital and among many other investors.

“We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways of doing things, and 5ire is committed to finding solutions to the UN’s 17 sustainability goals. We are confident in the capabilities of the management team at 5ire and wish them all the best, said Dr Sailesh Lachu Hiranandani, Chairman of the Board of the SRAM & MRAM Group.

“We are on a mission to build sustainability in the blockchain and shift the current paradigm from ‘for-profit’ to ‘for-benefit’. The 5ire team has worked around the clock to develop a platform that combines both technology and processes to their advantage. For humanity, becoming the world’s first and only sustainable unicorn born out of India, in just 11 months, is a testament to the fact that we are on the right path, we are humbled by the trust shown in 5ire by the SRAM & MRAM group and excited to find a partner who also wants to promote the transition to the world from the 4th industrial revolution to the 5th industrial revolution, “Pratik Gauri, CEO and founder, 5ire, said.

The money raised will be used for business expansion and expansion of 5ire’s footprint across three continents, including Asia, North America and Europe, with India as the hub for operations and core focus.

5ire was founded by entrepreneurs of Indian origin, Pratik Gauri and Prateek Dwivedi, together with web3 financier Vilma Mattila, in August 2021. 5ire is a blockchain ecosystem focusing on sustainability, technology and innovation to build the 5th industrial revolution ( 5IR). The company was in line with the UN Sustainability Goals (SDGs), simplified the transition from 4IR to 5IR, and accelerated the implementation of the UN 2030 Agenda for Sustainable Development.

SRAM & MRAM Group was founded by Dr. Sailesh Lachu Hiranandani in 1995. The company is headquartered in Edinburgh, UK with branch offices in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh.