Paris based bitcoin hardware startup Ledger has raised $7m in Series A funding led by MAIF Avenir. Ledger produces hardware where users can store and keep track of their cryptocurrency holdings.
The new round comes more than two years after Ledger raised €1.3m in seed funding. In that time, the startup has moved to release wallets that support other cryptocurrencies and, in November, launched the Ledger Blue, a departure from its previous thumb drive-style aesthetic. Ledger now plans to expand its reach into the enterprise space, with an eye to bring larger companies into its customer base – Larchevêque said he hopes to have the first beta customers in place by the end of June. The startup is also looking to grow its sales figures for the year, aiming to sell 100,000 units in 2017. MAIF, which led the round, said it invested in the startup as a means to contribute to more confidence and security in cryptocurrency transactions.