Leger Raises $2.9 Million from Samsung
- The investment came as a part for its Series C funding round.
South Korean electronics giant Samsung has invested €2.6 million (around $2.9 million) in crypto hardware wallet manufacturer Ledger, the French business magazine Capital revealed on Wednesday.
The new funding has taken the total valuation of the French startup to €260 million (roughly $290 million), the report added.
According to CrunchBase, the new funding came as a part of Seris C funding for the hardware maker. The company was started in 2014 with $1.3 million in seed capital but was quick enough to attract the attention of investors and two years later raised $7 million in Series A funding round. Last year, Ledger raised $75 million in Series B funding round which was led by Draper Esprit and participated by 12 investors in total.
A shuffle in the management
Meanwhile, Ledger recently announced the appointment of its president Pascal Gauthier as the new chief executive officer, ousting the company’s co-founder Eric Larchevêque from the apex position. Larchevêque, however, has taken the position of executive chairman at the company’s board.
Larchevêque, on Twitter, confirmed the new funding and, emphasizing the role of smartphones for the crypto industry, stated: “We will still need hardware wallets, but to support a crypto revolution based on personal sovereignty accessible to all, the smartphone will indeed play a central role.”
On aura toujours besoin de hardware wallets, mais pour accompagner une révolution crypto basée sur une souveraineté personnelle accessible à tous, le smartphone va effectivement jouer un rôle central.
— Eric Larchevêque (@EricLarch) April 24, 2019
Many recent reports revealed that Samsung is betting bullishly on Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. The company is reportedly developing its own blockchain on Ethereum and is also planning to launch its native digital currency called “Samsung Coin.”
The smartphone manufacturer also introduced crypto storage facility on its flagship smartphone device earlier this year. Though Samsung Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Wallet can only hold Ethereum and other ERC-20 tokens, it is anticipated that the company will extend its support for Bitcoin as well.
South Korean electronics giant Samsung has invested €2.6 million (around $2.9 million) in crypto hardware wallet manufacturer Ledger, the French business magazine Capital revealed on Wednesday.
The new funding has taken the total valuation of the French startup to €260 million (roughly $290 million), the report added.
According to CrunchBase, the new funding came as a part of Seris C funding for the hardware maker. The company was started in 2014 with $1.3 million in seed capital but was quick enough to attract the attention of investors and two years later raised $7 million in Series A funding round. Last year, Ledger raised $75 million in Series B funding round which was led by Draper Esprit and participated by 12 investors in total.
A shuffle in the management
Meanwhile, Ledger recently announced the appointment of its president Pascal Gauthier as the new chief executive officer, ousting the company’s co-founder Eric Larchevêque from the apex position. Larchevêque, however, has taken the position of executive chairman at the company’s board.
Larchevêque, on Twitter, confirmed the new funding and, emphasizing the role of smartphones for the crypto industry, stated: “We will still need hardware wallets, but to support a crypto revolution based on personal sovereignty accessible to all, the smartphone will indeed play a central role.”
On aura toujours besoin de hardware wallets, mais pour accompagner une révolution crypto basée sur une souveraineté personnelle accessible à tous, le smartphone va effectivement jouer un rôle central.
— Eric Larchevêque (@EricLarch) April 24, 2019
Many recent reports revealed that Samsung is betting bullishly on Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. The company is reportedly developing its own blockchain on Ethereum and is also planning to launch its native digital currency called “Samsung Coin.”
The smartphone manufacturer also introduced crypto storage facility on its flagship smartphone device earlier this year. Though Samsung Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Wallet can only hold Ethereum and other ERC-20 tokens, it is anticipated that the company will extend its support for Bitcoin as well.