5ire, a fifth generation level one blockchain network, has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM and entered into the coveted club of unicorns.
What is 5ire
This investment makes 5ire the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world, valued at $1.5 billion. 5ire was founded by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila, in August 2021.
Pratik Gauri, CEO and Founder of 5ire said, “We are on a mission to embed sustainability into blockchain and shift the current paradigm from ‘for-profit’ to ‘for-benefit’. The 5ire team has worked round-the-clock to develop a platform that combines both technology and processes for the benefit of humankind. Becoming the world’s first and only sustainable unicorn born out of India, in just 11 months, is testimony that we are on the right path. We are humbled by the trust shown in 5ire by the SRAM & MRAM group and thrilled to find a partner who also wants to promote the transition of the world from the 4th Industrial Revolution to the 5th Industrial Revolution.”
5ire is a fifth-generation blockchain ecosystem, built from the ground up with the United Nation’s sustainable development goals in mind. 5ire includes 5ireChain, the world’s first sustainable blockchain; 5ire VC, 5ire’s venture capital arm; and 5ire Labs, 5ire’s research and development hub.
Their mission and vision
5ire aims to become a blockchain ecosystem for the 5th industrial revolution, where self-sovereign decentralized organizations are empowered & incentivized toward accelerating the implementation of the United Nations 2030 Agenda for Sustainable Development.
Their goal is to work hard to provide finance platforms that could potentially revolutionize access to capital and unlock potential for new investors in projects that address environmental challenges.
5ire is a communal response to finding technological solutions that are communally centred. Be it, 5ireChain, our blockchain solution with a core dedicated to working towards UN’s Sustainability Goals, the 5ire Wallet, to exchange value with our ethos aligned with our profits, 5ire Exchange, to form a system of money marketplace for trading, an NFT marketplace to bring NFTs to the fore, and the 5ire VC fund, to explore, encourage and invest in projects that propagate the “for benefit” economy, we are committed to shifting the paradigm from “for profit” to “for benefit”.