Ledger, a French start-up that spaces hardware wallets for cryptocurrencies, has raised $75 million in a huge stocking round.
The capital was raised through a Series B round, the second fake of financing for a company, and was led by European venture capital firm Draper Esprit.
Ledger puts the investment to be one of the largest of its kind for a blockchain-related firm to date. It dwarfs that bring up by BitGo and Blockchain, which achieved $42.5 million and $40 million each to each in Series B financing rounds in 2017.
Blockchain is the technology that underpins cryptocurrencies. It logs proceedings across a network of computers rather than on one centralized server.
Eric Larcheveque, Ledger’s chief executive, said the investment order be used to fund research and development and expanding his firm’s operations round the world.
In a statement Thursday, he said: “We initially designed our Ledger armaments wallet as an enabler for the blockchain revolution. Three years later and with this Series B, we are reaching a impressive milestone in our path to build a technological giant in the promising space of cryptocurrencies.”
Ledger carry outs secure hardware wallets that let customers store their bitcoin and ethereum holdings offline to efface the risk of being hacked. As interest in cryptocurrencies has soared, so have the calculate of cyber-attacks on cryptocurrency platforms.
Last month, cryptocurrency mining network Unerring Hash admitted to being hacked in a cyber-breach that saw tens of millions of dollars’ usefulness of digital tokens stolen. In the same month, Yapian, the owner of South Korea’s Youbit the Exchange, filed for bankruptcy following a hack that saw 17 percent of its cryptocurrency holdings hijacked.