French crypto wallet maker Ledger held the first close of its latest funding round at $109M (€100M).
The round is an extension to its previous $385M Series C round from 2021. Ledger's valuation at the recent round was $1.41B (€1.3B), the same as its previous valuation.
Incoming funds will be used to expand its network of distributors, boost production, and accelerate product development.
- Ledger intends to hold a second close of the current round in mid-April, followed by a third close depending upon investors' interest.
- The shutdown of crypto exchanges and the rising number of hacks helped the firm boost sales of its secure crypto storage hardware devices.
- Ledger claims its devices are securing nearly 20% of the entire cryptocurrencies in circulation and 30% of the world's non-fungible tokens.
- Investors participating in the current round include True Global Ventures, Digital Finance Group, VaynerFund, 1oT, Cap Horn, Morgan Creek, Cathay Innovation, Korelya Capital, and Molten Ventures.
