Crypto Wallet Ledger secures additional funding, boding well for venture capital group Molten Ventures By Proactive Investors
Proactive Investors – Venture capital group Molten Ventures has confirmed that its portfolio company Ledger, maker of high-security cryptocurrency hard wallets, closed its series-c extension round maintaining Ledger’s valuation at €1.3bn (£1.14).
The extended round added €100m in new funding, following the €356m raised in 2021.
Peel Hunt analysts noted the recent wave of news surrounding the security of crypto assets in the wake of numerous high-profile collapses including FTX and Celsius Network, which “should bring Ledger’s focus on secure consumer devices to the forefront”.
Ledger has sold over six-million devices holding 25% of the world’s cryptocurrencies and 30% of the world’s NFTs, explained Peel Hunt
“Demand for its latest Ledger Stax device, launched in December, has exceeded supply, and it has become the most successful Ledger product launch to date.”
Peel Hunt has a buy rating for Molten Ventures with a target price of 728p.
In further news of Molten Ventures’ portfolio groups, Isar Aerospace raised US$165mln and metaverse platform Hadean raised US$5mln, bringing its total fundraising to US$35mln.
Read more on Proactive Investors UK
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