5ire has received funding from the UK-based SRAM & MRAM conglomerate to become the fastest growing block chain unicorn in India and the only sustainable block chain unicorn in the worldCreation of the founders of Indian origin, Pratik Gauri and Prateek Dwivedi
LONDON, UNITED KINGDOM / ACCESS CABLE / July 17, 2022 / 5ire, a fifth-generation Tier 1 blockchain network and the world’s first and only sustainable blockchain, announced today that it has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM. United. This investment makes 5ire the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world, valued at $1.5 billion. 5ire was founded by Indian-born entrepreneurs Pratik Gauri and Prateek Dwivedi together with web3 financier Vilma Mattila in August 2021.
5ire raised $21 million in seed round funding at a valuation of $110 million with the participation of private and institutional investors such as Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital and many other investors.
Funds raised will be used for business expansion and extension of 5ire’s presence across three continents, including Asia, North America and Europe, with India serving as the hub and core area of focus. 5ire will continue to invest in further strengthening its blockchain and will work to ensure that this decentralized technology benefits a larger base globally. In addition, 5ire aims to hire the best talent in the industry in functions such as product, engineering, marketing, etc.
Speaking on the occasion, Dr. Sailesh Lachu Hiranandani, SRAM & MRAM Group President, said: “We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways of doing things, and 5ire is committed to finding solutions for all 17 UN Sustainable Development Goals. We are confident in the abilities of the 5ire leadership team and wish them all the best.”
Pratik Gauri, CEO and Founder of 5ire, said: “We are on a mission to integrate sustainability into blockchain and change the current paradigm from ‘for-profit’ to ‘for-profit’. The 5ire team has worked day and night to develop a platform that combines technology and processes for the benefit of humanity. Becoming the world’s first and only sustainable unicorn born outside of India, in just 11 months, is testament that we are on the right track. We are honored by the trust shown in 5ire by the SRAM group and MRAM and delighted to find a partner who also wants to promote the world’s transition from the 4th Industrial Revolution to the 5th Industrial Revolution.”
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5ire is a blockchain ecosystem that generates sustainability, technology and innovation to build the fifth industrial revolution (5IR). The mission of the 5ire ecosystem is to embed the profit paradigm at the heart of blockchain, through highly incentivizing practices that align with the United Nations Sustainable Development Goals (SDGs), thereby facilitating the transition from 4IR to 5IR. 5ire empowers decentralized autonomous organizations (DAOs) and task forces to help accelerate the implementation of the 17 UN SDG goals. It ensures openness, unity of purpose, and inclusion. Thus, shaping business ethics and collaborations towards sustainability while providing a cross-chain environment as well as advanced governance and reward mechanisms for participants.
5ire is a blockchain ecosystem that focuses on sustainability, technology, and innovation to build the fifth industrial revolution (5IR). Founded by blockchain advocates Pratik Gauri, Prateek Dwivedi, and Vilma Mattila in August 2021, the 5ire ecosystem’s missions are to embed a profit paradigm at the heart of blockchain, highly incentivize practices that align with the Sustainable Development Goals ( SDG) of the United Nations. ), facilitate the transition from the 4IR to the 5IR, and accelerate the implementation of the United Nations 2030 Agenda for Sustainable Development. main company offering is 5ireChain, a first-layer sustainability-driven fifth-generation blockchain that ensures adherence to the 5IR philosophy, creating a net positive impact on the planet and serving humanity.
For more information, visit their website at https://www.5ire.org.
About SRAM and the MRAM group
SRAM & MRAM Group is a brainchild of Dr Sailesh Lachu Hiranandaniand founded in 1995. President Dr Sailesh Lachu Hiranandani, holds a PhD in Financial Management from the UK, is a visionary with a strong background in financial and risk management in hedge funds and currency management. His career began trading commodities in India and Cambodia and gradually moved into hedging currencies and rollovers in Tokyo, Hong Kong and Singapore. During this time, the world’s currency markets were fluctuating rapidly and he wanted a reliable system to trade the USD against the GBP, EURO and JPY. This led him to acquire considerable skills in both the financial and information technology markets.
Assisted by a team capable of Information technology and Forex associates, created what it is today, after two decades, a global conglomerate with 8 international alliances, 10 companies, 5 continents, more than 35 locations, more than 300 employees with a sales volume of USD 800 million (year fiscal 2017-2018). The corporation is headquartered in Edinburgh, UK, with branches in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh. For more information, visit https://srammram.com.