As more people pile into cryptocurrencies, the need for secure storage of them will escalate. At the moment, there are only a handful of companies providing hardware wallets for Bitcoin and altcoins. Currently, those looking for such wallets are increasingly finding shelves are empty of stock amid increasing demand.
Blockchain security company Ledger announced yesterday that it has secured $75 million in investments to facilitate upscaling its operations to cope with higher demand. In a press release, the company stated that investments were led by London-based capital markets company Draper Esprit.
According to the website, this is the second round, Series B, of funding, with the first securing $7 million in March 2017. Additional funding for this round came from Draper Venture Network funds, including Draper Associates, Draper Dragon, and Boost VC, as well as FirstMark Capital, Cathay Innovation, and Korelya Capital.
Ledger CEO Eric Larchevêque applauded the joint efforts:
These funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally. I am delighted to bring on board Draper Esprit and a truly global group of investors who will support the company as it grows rapidly.
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