Home News 5ire raises $100 million in Series A funding

5ire raises $100 million in Series A funding


Play there is a news coming from the internet e-commerce platforms as the Blockchain platform 5ire turns its position and now it has become a unicorn as the fifth-generation level one Blockchain network has recently benefited itself with $100 million in Siri is a series funding from UK based conglomerate SRAM and MRAM and now Blockchain platform 5ire has joined the league of unicorns. Follow More Update On GetIndiaNews.com

5ire raises 0 million in Series A funding

As this hundred million funding is planned by 5ire to be used in according to the company need in time and also for the expansion of the business and now it will planning to expand its area of influence in different parts of the globe as major Lee it is targeting now the Asia North America and Europe as India is the hub of its operational activities and also the headquarter is situated in India and it has a core focus on the Indian market.

And in near future, the start-up is planning on hiring new staff for the operations related to product engineering and marketing as currently, 5ire’s total workforce comprises 70%, of Indian origin people. the company 5ier is founded by the Indian-based Pratik Gauri and Prateek Dwivedi and this start-up was then joined by web3 financier Vilma Mattila, earlier 5ire was previously involved in fundraising and was able to have fundraised $21 million and it is now able to raise funds worth $100 million as this is a collective contribution from companies like the alphabet, marshland capital, Launchpool Labs, Moonrock capital and others.

5ire is an ecosystem of a blockchain network that is devoted to sustainability, technology, and innovation to achieve a target of the fifth industrial revolution 5IR. the company is an empowered and decentralized, auto-monitored, and organized company that is working to help accelerate the implementation of new technology and innovations in the United Nations sustainable development program. Therefore it facilitates the transition-based innovations to the companies and other United Nations industrial bodies helping them to convert from 4ier to 5ier.

Besides its Blockchain business 5IRE also runs a 5IRE VC, a branch business start-up that works for the research and development programs, and the company’s office also said that the company is still in the initial stage of growth and creating revenue is not very easy right now but till November it will be generating revenue from research and other programs. 5IRE is the London registered company and the third Indian-origin start-up to join the unicorn list now it has 100 million worth and standing in the third position on the global level.

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Ashish Sangwan
Studying engineering and business administration couldn't satiate his mind and in 2007, Ashish Sangwan found his calling as a sportswriter/journalist. Since then he was written on cricket, F1 and football at various avenues not only in India but also in USA and UK.


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