French crypto-currency hardware wallet maker Ledger is looking to raise fresh capital after raising $380 million in June 2021. Ledger is reportedly looking to raise at least $100 million from strategic investors.
According to Bloomberg, Ledger is looking for additional funding after the company’s Series C last June. At the time, Ledger raised $380 million in a round led by 10T Holdings, valuing it at about $1.5 billion.
Founded in 2015 by Eric Larchevêque and Thomas France, Ledger has propelled itself as one of the leading crypto-currency hardware wallet makers in the world. Ledger competes with other digital currency hardware wallet manufacturers such as Trezor, Ellipal, Coolwallet, Safepal and Coinkite.
The article published on July 30 says that “people familiar with the plans“have stated that Ledger is “in talks to raise at least $100 million in a funding round that will give it a higher valuation.“Bloomberg’s Gillian Tan, Hannah Miller, Anna Irrera and Olga Kharif reached out to Ledger and the company declined to comment on the possible funding round.
According to a study, the crypto-currency hardware wallet market is expected to reach $1.72 billion by 2030.
Ledger sells the Nano S Plus and Nano X series hardware wallets are priced between 79 and 149 euros. Both wallets are non-depository crypto-currency hardware wallets that can store, send and receive dozens of digital currencies. Straits Research’s study indicates that the hardware wallet market is expected to reach $1.72 billion by 2030.
Market intelligence firm Straits Research says the Asia-Pacific region has the largest market share of hardware wallets in the world, and the highest projected growth potential also comes from that region. While Ledger received a $380 million capital infusion in June 2021, the company suffered several information leaks that summer related to customer data.
In June Ledger launched the colorful Nano S Plus and Nano X series wallets. The new color names were chosen by the community and include Mystic White, BTC Orange, Deepsea Blue, Ice, Cosmic Purple, and Blazing Orange.