France-based Ledger, a startup specializing in hardware bitcoin wallets, has reportedly secured €1.3 million ($1.48 million) in seed funding.
The round was led by leading FinTech venture investment firm, XAnge Private Equity, and joined by Hi-Media group, NetAtmo CEO Fred Potter, Rentabiliweb Group VP Thibaut Faurès Fustel de Coulanges, Alain Tingaud Innovations and Pascal Gauthier.
Ledger released its first product, the Nano Wallet, in December. Priced at €29, or 0.1179 BTC, it aims to be a highly secure, easy to use and cost effective alternative. Many Bitcoiners are fans of hardware wallets due to the unique user experience. More importantly, such wallets offer an apparently hacking-proof alternative to their online counterparts.
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The funding will go towards building out solutions for the bitcoin ecosystem based on the core wallet offering. Slated for development are: Ledger Blue, another hardware wallet that includes a display and keyboard; near-field communications (NFC) and Bluetooth functionality compatible with smartphones and point-of-sale (POS) terminals; and a LedgerOS operating system, to be compatible with Ledger smartcards and hardware security apparatus.
Attendees of this year’s Consumer Electronics Show in Las Vegas got a sneak peak at the NFC and Bluetooth editions.
The startup is also looking to expand beyond France, with co-founder Thomas France reportedly relocating to San Francisco–a major Bitcoin hub–to launch a U.S. subsidiary, Ledger Technology Inc.
For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.