Ledger, a French-based cryptocurrency hardware wallet manufacturer, has announced that it raised $75 million in new venture capital funding. The company says this investment will be used to significantly scale up its operations to answer a growing market demand.
The startup already raised $7 million last year during the first investment round, according to TechCrunch. Among the companies that invested in Ledger are MAIF Avenir, XAnge, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto.
The second round was led by the UK-based Draper Esprit. FirstMark Capital, Cathay Innovation, Korelya Capital and several existing investors also joined the new round of investments.
“These funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally,” said Eric Larcheveque, CEO of Ledger.
Ledger was founded in 2014 by a team of eight entrepreneurs who saw the potential of blockchain technology to advance the way people live and that security would be the cornerstone of its long term success. The company has been growing at a fast pace since then and now employs 82 people in San Francisco, Paris and Vierzon.