Blockchain startup 5ire raises USD 100 Mn; mulls IPO

The funds will also be used to onboard additional technical developers and to build a robust 5ireChain infrastructure.

5ire, a Blockchain network, has raised USD 100 million investment from GEM Global Yield LLC SCS, a Luxembourg-based private alternative investment group. Additionally, 5ire has plans to file for an Initial Public Offering.

5ire plans to use the funds to expand its ecosystem which involves liaising with the government stakeholders in India and international markets. The fresh capital will be used to onboard additional technical developers and to build a robust 5ireChain infrastructure. At the same time, the company will also focus on acquiring the best talent for sales, marketing, and product development roles. The company has plans to increase the adoption of 5ireChain across governments, Fortune 500 companies, family offices and civic bodies.

“We are really excited about this USD 100 million investment from GEM as it is a testimony to the market confidence in our offering,” said Pratik Gauri, CEO and co-founder of 5ire.


Sign up for your weekly dose of what's up in emerging technology.

5ire, a fifth-generation blockchain network, was founded by Pratik Gauri and Prateek Dwivedi and Vilma Mattila. Prior to the capital infusion from GEM, the company was valued at USD 100 million after it received a seed funding of USD 21 million from both private and institutional investors.

The investment in 5ire will help GEM solidify its foothold in emerging markets for sustainable level 1 blockchains with a highly diversified portfolio of use cases.

More Great AIM Stories

SharathKumar Nair
Sharath is an ardent believer in the ‘Transhumanism’ movement. Anything and everything about technology excites him. At Analytics India Magazine, he writes about artificial intelligence, cybersecurity and the impact these emerging technologies have on day-to-day human lives. When not working on a story, he spends his time reading tech novels and watching sci-fi movies and series.

Our Upcoming Events

Conference, in-person (Bangalore)
Machine Learning Developers Summit (MLDS) 2023
19-20th Jan, 2023

Conference, in-person (Bangalore)
Rising 2023 | Women in Tech Conference
16-17th Mar, 2023

Conference, in-person (Bangalore)
Data Engineering Summit (DES) 2023
27-28th Apr, 2023

Conference, in-person (Bangalore)
MachineCon 2023
23rd Jun, 2023

Conference, in-person (Bangalore)
Cypher 2023
20-22nd Sep, 2023

3 Ways to Join our Community

Whatsapp group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our newsletter

Get the latest updates from AIM