Leading hardware wallets maker, Ledger is planning to raise at least $100 million in a new funding round that will further increase its valuation which stands at over $1.5 billion as of now.
With Ledger’s previous financing, the company now aims at a higher valuation than it already is. However, people familiar with the matter declined to discuss such confidential matters.
Ledger has last raised $380 million in June 2021 and is now seeking funds against all odds, considering the community is witnessing a crypto winter scenario. In such circumstances, crypto venture capital investing has cooled down in response to the downturn in digital asset-prices.
As per sources associated with the matter, the company’s business is growing with an increasing number of crypto investors whose preference is to own their own crypto assets.
Rather than delegating the task to third parties, crypto investors have sorted their way out to hold their own assets following recent liquidity troubles at some crypto exchanges.
This hightened desire and higher demand for security are working in favor of Ledger’s business. To keep up with today’s competencies, Ledger has also supported the Cardano ecosystem for users to manage 100 Cardano Native Tokens right from the Ledger Live App securely with speed and cost-efficiency.
In addition to the wallets, Ledger offers a slew of crypto-related services and has been making a push to become a more mainstream brand.
