5ire Gets a $100 Million Capital Commitment from GEM Global Yield LLC
Posted on 02/15/2022
5ire is a blockchain network founded by Pratik Gauri and Prateek Dwivedi, along with Vilma Mattila. 5ire secured a US$ 100 million capital commitment from GEM Global Yield LLC SCS (GGY) as it seeks to file for an IPO. GGY is a Luxembourg-based private alternative investment group that manages a diverse set of investment vehicles focused on emerging markets worldwide. Prior to this capital infusion, 5ire’s valuation stood at US$ 110 million upon receiving a funding of US$ 21 million in its seed round from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, among other investors. 5ire is a blockchain ecosystem founded in August 2021. 5irechain challenges other Tier 1 Smart Contract Platforms by embedding sustainability in the consensus mechanism architecture.
Vilma Mattila is an investor in cryptocurrency technologies.