Hardware Wallet Startup Ledger Gets $1.48 Million in Funding to Develop Product Suite

France-based Ledger, a startup specializing in hardware bitcoin wallets, has reportedly secured €1.3 million ($1.48 million) in seed funding. The

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.

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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.

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