PE Fund Investments
Blockchain start-up 5ire raises $100-M from GEM
5ire, a blockchain start-up founded by Indian-origin technologists, has raised USD 100 million from US-based Global Emerging Markets' GEM Global Yield LLC SCS (GGY) fund, ahead of a likely IPO. The Luxembourg-headquartered 5ire was founded by Pratik Gauri and Prateek Dwiwedi, along with crypto financier Vilma Mattila. The investment will help 5ire gain a foothold in the emerging markets for sustainable level 1 blockchains with a diversified portfolio of use cases and a growing cache of MoUs with government and private sector partners. Prior to this capital infusion, 5ire's valuation stood at USD 110 million upon receiving a funding of USD 21 million in its seed round from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital and other investors.
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