Hardware wallet company Ledger announced late last week it raised $75 million in its Series B funding round. Venture capital firm Draper Espirit was the architect of this fundraising round. (CNBC)
The key facts
Ledger claims the investment to be one of the largest of its kind for a blockchain-related firm to date. It dwarfs that raised by BitGo and Blockchain, which achieved $42.5 million and $40 million respectively in Series B financing rounds in 2017. (CNBC)
Smart take: As technology advances, it’s usually the people/companies that make the plumbing that end up making the most money. When the Internet took over the world, the people that provided the hardware to make it run won big. Looks like blockchain is following the same path. People want secure places to store bitcoin and other cryptocurrency investments. Hardware wallets, which take the investments offline and into secure devices, provide that environment.