5ire, blockchain start-up has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM at a valuation of $110 million. With participation from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, and amongst many other investors.

 “We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways to do things, and 5ire is committed to finding solutions for the 17 UN Sustainability Development Goals. We are assured in the abilities of the leadership team at 5ire and wish them all the very best,” Dr Sailesh Lachu Hiranandani, chairman of the SRAM & MRAM group, 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,” Pratik Gauri, CEO and founder, 5ire, said.

The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations and core area of focus.

5ire was founded by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila, in August 2021. 5ire is a blockchain ecosystem that focuses on sustainability, technology and innovation to build the 5th industrial revolution (5IR). The company aligned with the United Nations Sustainable Development Goals (SDGs), facilitated the transition from the 4IR to 5IR, and accelerate the implementation of the UN 2030 Agenda for Sustainable Development.

SRAM & MRAM Group was founded by Dr. Sailesh Lachu Hiranandani, in 1995.The corporation is headquartered in Edinburgh, United Kingdom with branch offices in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh.