5ire, a fifth-generation Tier 1 blockchain network and the world’s first and only sustainable blockchain, today announced that it has raised $100 million in Series A funding of UK-based conglomerate SRAMs and MRAMs. This investment makes 5ire the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world, valued at $1.5 billion. 5ire was founded by Indian-born entrepreneurs Pratik Gauri and Prateek Dwivedi, as well as web3 financier Vilma Mattila, in August 2021.
5ire has raised funding of $21 million in its seed round for a $110 million valuation with the participation of private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital and many other investors.
The funds raised will be used to business expansion and expansion of 5ire’s footprint on three continents, including Asia, North America and Europe, with India as a hub of operations and main area of focus. 5ire will continue to invest in strengthen your blockchain go further and work to ensure this decentralized technology benefits a broader base globally. In addition, 5ire aims to recruit the best talent in the industry through functions such as product, engineering, marketing, etc..
Speaking on occasion, Dr. Sailesh Lachu Hiranandani, President of SRAM & MRAM Grouppoints out,
“We have great confidence in continued investment in sustainable technologies. As a scientist, I have always believed in finding better ways of doing things, and 5ire is committed to finding solutions for all 17 UN Sustainable Development Goals. We are confident in the abilities of the 5ire management team and wish them all the best.
Pratik Gauri, CEO and Founder from 5ire said,
“We are on a mission to embed sustainability into blockchain and shift the current paradigm from ‘for-profit’ to ‘for-profit’. The 5ire team has been working around the clock to develop a platform that combines both technology and process for the benefit of humanity. Becoming the world’s first and only sustainable unicorn born in India in just 11 months is a testament that we are on the right track. We are honored by the trust placed in 5ire by the SRAM & MRAM Group and delighted to find a partner who also wants to promote the world’s transition from the 4th industrial revolution to the 5th industrial revolution.
5ire is a blockchain ecosystem that champions sustainability, technology, and innovation to build the 5th Industrial Revolution (5IR). The mission of the 5ire ecosystem is to embed the benefit paradigm at the heart of the blockchain, strongly incentivizing practices that align with the United Nations Sustainable Development Goals (SDGs), thereby facilitating the 4IR transition at 5IR. 5ire enables Decentralized Autonomous Organizations (DAOs) and Task Forces to help accelerate the implementation of the 17 UN SDG goals. It provides openness, unity of purpose and inclusiveness. Thus, shaping business ethics and collaborations towards sustainability while providing a cross-chain environment as well as advanced governance and reward mechanisms for participants.
About 5ire:
5ire is a blockchain ecosystem that focuses on sustainability, technology and innovation to build the 5th industrial revolution (5IR). Founded by blockchain proponents Pratik Gauri, Prateek Dwivedi and Vilma Mattila in August 2021, the missions of the 5ire ecosystem are to embed a benefit paradigm at the heart of blockchain, to strongly incentivize practices that align with the UN Sustainable Development Goals (SDGs), facilitate the transition from 4RI to 5RI and accelerate the implementation of the UN 2030 Agenda for Sustainable Development. The company’s core offering is 5ireChain, a sustainability-focused first layer of 5th-generation blockchain that ensures adherence to the 5IR ethos, creating a net positive impact on the planet and serving humanity.
For more information, visit its website at https://www.5ire.org.
About SRAM & MRAM Group:
SRAM & MRAM Group is the brainchild of Dr. Sailesh Lachu Hiranandani and was founded in 1995. President Dr. Sailesh Lachu Hiranandani, Ph.D. in Financial Management from the UK, is a visionary with a strong financial and risk management background in Hedge Funds and Forex Management. His career started with commodity trading in India and Cambodia and gradually moved into foreign exchange hedging and renewals from Tokyo, Hong Kong and Singapore. During this period, the global currency markets were fluctuating rapidly and he wanted a reliable system to manage the USD against GBP, EURO and JPY. This led him to acquire considerable skills in both the financial market and the information technology market.
Assisted by a competent team of Computer science and Forex associates, he created what is today, after two decades, a global conglomerate with 8 international alliances, 10 companies, 5 continents, more than 35 locations, more than 300 employees with a turnover of 800 million USD (fiscal year 2017-2018) . The company is headquartered in Edinburgh, UK, with branches in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh. For more information, please visit https://srammram.com.
Disclaimer: This is a paid publication and should not be considered news or advice.