5ire becomes the 105th unicorn in the country

July 18, 2022

Unicorns are privately held, venture-capital backed startups that have reached a value of $1 billion.
Indian-based entrepreneurs Pratik Gauri, Prateek Dwivedi, and web3 financier Vilma Mattila’s startup 5ire has become the country’s new Unicorn.
The blockchain startup 5ire has raised 100 million in Series A funding from UK-based conglomerate SRAM & MRAM, which now makes 5ire valuation of $1.5 billion.
5ire was founded in August 2021, and after just one year, it has become the 105th unicorn in the country and the 20th this year. 5ire has now joined companies like Deal Share, Drawinbox, Xpressbees, and Mamaearth which has turned unicorn this year.
The Blockchain company works on 5th generation blockchain system.
It Becomes the world’s first and only sustainable unicorn born out of India, in just 11 months.
5ire earlier raised a funding of $21 million in its seed round at a valuation of $110 million with participation from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, and Moonrock Capital, among others.
American venture capitalist Aileen Lee is credited with coining the term in 2013.