5ire platform raises $100 million to grow business

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London company 5ire,developing blockchain solutions, raised $100 million to expand its operations in North America, Asia and Europe. After this, the company's valuation increased to $1.5 billion.

The fundraising was led by a leading internationalconglomerate SRAM & MRAM Group. The company said that the funds received will be used to strengthen its presence in Europe, Asia and North America. In addition, 5ire plans to hire about 100 new employees.

5ire's previous round of funding took place in October last year - the company raised $21 million, and its valuation reached $110 million. Now this figure has grown to $1.5 billion.

“Our score has jumped so much because weWe have 12 patents pending and are constantly developing new solutions for our customers. And thanks to collaboration with SRAM & With MRAM Group owning 800 hospitals and a lot of real estate, we will be able to access huge infrastructure and bring our ideas to life,” said 5ire co-founder Pratik Gauri.

He also assured that 5ire aims tothe task of “changing the current paradigm” and showing society that blockchain and cryptocurrencies can bring not only profit to investors, but also benefit the entire global financial ecosystem.

Recall that earlier this month, Animoca Brands, which invests in metaverses, NFT trading platform OpenSea and the game Axie Infinity, announced it had raised $75 million.