Ledger, the French manufacturer of hardware crypto-currency wallets, attracted $ 75 million of investments in the series B round.
As reported today, the new round was led by British investment company Draper Esprit, as well as Draper Venture Network, FirstMark Capital, Cathay Innovation and Korelya Capital. Existing investors such as CapHorn Invest, GDTRE, and Digital Currency Group also took part in the round.
Ledger said that they plan to use the funds received primarily to expand their business amid growing popularity of cryptocurrency.
Eric Larchevek, head of Ledger, said:
“These funds will be used to a significant extent for the research and development of the scaling of our operations, and the distribution of our teams around the world.”
The company also reports that a new solution for managing crypto-currency assets, called Ledger Vault, is being developed. The product will be sent to institutional investors, particularly banks and hedge funds.
Ledger was founded in 2014, and since then it has provided a wide range of hardware wallets for storing confidential crypto-currency keys. New funding was received almost a year after the closing of the A-series with a result of $ 7 million in March 2017.