French Crypto Security Startup Ledger Raises Additional $108 Million in Funding Extension Round

Ledger, a French startup that designs and manufactures hardware wallets to secure crypto assets, has added an additional €100 million ($108 million) in new funding to its Series C funding round. This brings the total amount raised in 2021 to €356 million ($385 million). However, the valuation of the company remains the same at €1.3 billion ($1.41 billion). Despite the current funding environment, raising funds at the same valuation is considered impressive.

Ledger's products include hardware crypto wallets that offer a high level of security. The private key of the wallet never leaves the device, which is stored in a certified secure chip. When sending crypto tokens, users need to validate the transaction with the private key by turning on the Ledger wallet and confirming the transaction on the device's tiny screen.

Ledger has a long list of investors, including True Global Ventures, Digital Finance Group, and VaynerFund, among others. The company's flagship product is the Ledger Nano S Plus, and it also sells the Ledger Nano X and the high-end Ledger Stax designed in partnership with Tony Fadell.

The company has sold 6 million devices since its inception in 2014, and it estimates that it secures 20% of cryptocurrencies and 30% of NFTs worldwide. In addition to its hardware business, Ledger also offers enterprise solutions to secure crypto assets and generates revenue from Ledger Live, which offers staking opportunities and integration with third-party products.