Blockchain startup 5ire has raised $100 million from UK-based SRAM & MRAM, a group founded by Sailesh Lachu Hiranandani. 5ire said the funding values it at $1.5 billion.
The company was founded last year by Indian entrepreneurs Pratik Gauri and Prateek Dwivedi, along with investor Vilma Mattila.
The valuation makes it India’s 104th unicorn and 19th in the current calendar year. The funding is expected to be deployed for business expansion and extending 5ire’s footprint across Asia, North America and Europe, with India as the hub of operations and core area of focus. 5ire will continue to invest in strengthening its blockchain further and work towards ensuring this decentralised technology benefits a larger base globally. The company also plans to hire talent across functions like product, engineering, and marketing.
5ire said it had raised a funding of $21 million in its seed round at a valuation of $110 million with participation from both private and institutional investors.