Crypto Wallet manufacturer Ledger wants to raise at least $100 million
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Finally, some good news
Hardware wallet maker Ledger is in talks to raise at least $100 million during an investment round, according to anonymous sources cited by Bloomberg. This would make the company’s evaluation higher amid the crypto winter.
Previously Ledger was evaluated in June 2021, during the Series C funding round, when the crypto wallet manufacturer managed to secure $380 million. Including received money, the company was worth more than $1.5 billion.
It is currently unclear when Ledger plans to hold a funding round. A spokesperson for the company declined to comment.
Things were going quite well for Ledger recently. Back in Spring, the manufacturer unveiled a new device, the Nano S Plus, aimed at NFT collectors and DeFi users.
Soon after that, Ledger entered into an agreement with The Sandbox project to increase the literacy of its users in the field of cryptocurrencies. In June, the company partnered with Cathay Innovation to launch a €100 million crypto fund. Roughly at the same time, Ledger introduced a corporate-focused NFT marketplace and Web3 services platform.
However, it seems like right now is not the time for investments in crypto startups. From April to June, venture investments in these businesses decreased by 31% compared to the first quarter, to $6.76 billion. According to analysts, the main reasons are the collapse of Terra, the serious problems of Celsius and Babel Finance, as well as staff cuts at Coinbase, Gemini and Crypto[.]com.
Source: Bloomberg
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