Blockchain startup 5ire turns unicorn in $100M funding round
Blockchain startup 5ire has secured $100 million in Series A round of funding. With this, the fifth generation level one blockchain network has become a unicorn. Fifth-generation level one blockchain network 5ire has joined the exclusive club of unicorns after securing $100 million in Series A investment from UK company SRAM & MRAM. With a current valuation of $1.5 billion, it is the fastest-growing blockchain unicorn in India, claims 5ire. According to a press statement from 5ire, the funds will be utilized to expand the company's activities across Asia, North America, and Europe, with India serving as the operational center and primary area of emphasis. Additionally, the firm wants to employ talented individuals for roles in marketing, engineering, and product development. Currently, 70% of the entire staff is based in India. Pratik Gauri and Prateek Dwivedi, two founders of 5ire who are of Indian descent, came up with the idea, and Vilma Mattila, a web3 f...