5ire, blockchain start-up has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM at a valuation of $110 million. With participation from each non-public and institutional traders like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, and amongst many different traders.
“We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways to do things, and 5ire is committed to finding solutions for the 17 UN Sustainability Development Goals. We are assured in the abilities of the leadership team at 5ire and wish them all the very best,” Dr Sailesh Lachu Hiranandani, chairman of the SRAM & MRAM group, stated.
“We are on a mission to embed sustainability into blockchain and shift the current paradigm from ‘for-profit’ to ‘for-benefit’. The 5ire team has worked round-the-clock to develop a platform that combines both technology and processes for the benefit of humankind. Becoming the world’s first and only sustainable unicorn born out of India, in just 11 months, is testimony that we are on the right path. We are humbled by the trust shown in 5ire by the SRAM & MRAM group and thrilled to find a partner who also wants to promote the transition of the world from the 4th Industrial Revolution to the 5th Industrial Revolution,” Pratik Gauri, CEO and founder, 5ire, stated.
The funds raised will probably be used for enterprise enlargement and lengthening 5ire’s footprint throughout three continents together with Asia, North America and Europe, with India because the hub of operations and core space of focus.
5ire was based by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, together with web3 financier Vilma Mattila, in August 2021. 5ire is a blockchain ecosystem that focuses on sustainability, know-how and innovation to construct the fifth industrial revolution (5IR). The firm aligned with the United Nations Sustainable Development Goals (SDGs), facilitated the transition from the 4IR to 5IR, and speed up the implementation of the UN 2030 Agenda for Sustainable Development.
SRAM & MRAM Group was based by Dr. Sailesh Lachu Hiranandani, in 1995.The company is headquartered in Edinburgh, United Kingdom with department places of work in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh.
Source: www.financialexpress.com”