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5ireChain funding to aid technology and help in team expansion
5ireChain`s second private sale round of $1.5M will open today, allowing more institutional investors to participate.
Highlights
- The funds will aid in developing the 5ireChain’s Technology and expanding the team.
- 5ireChain’s second private sale round of $1.5M will open today, allowing more institutional investors to participate.
For them, the pandemic has turned out to be a blessing in disguise. As the world's first blockchain for social impact, they've attracted interest from academia, ultra-high net worth individuals, impact champions, governments, and social entrepreneurs to construct smart contracts on 5ireChain, resulting in a $2 million private sale in just three days. People's awareness of the importance of health and social impact has accelerated their transition from the present 4th to the 5th Industrial Revolution, according to 5ire. In just three months, the team has grown to include more than 20 full-time employees from all around the world.
The funds will aid in developing the 5ireChain’s Technology and expanding the team.
The core technology, “Proof of 5ire,” integrates sustainability at the consensus mechanism level by economically rewarding companies for their sustainable practices.
After a $190k Angel Round, closed in just 28 minutes, Marshland Capital led the private sale 1 round with participation from Jan Strandberg (Founder of Yield.app), Jad Zouk (Advisor at Private Office of HH SJM AlMaktoum UAE), Sky Ventures, Millionaire Mentor, and Tarang Bhargava (Founder of VCommission). The $1M round was completed in 72 hours.
5ireChain’s second private sale round of $1.5M will open today, allowing more institutional investors to participate.
Pratik Gauri, co-founder and CEO of 5ireChain commented, “This investment humbles us, and it is an important milestone for our team. It strengthens our primary vision of sustainability & inspires us to cultivate the 5ireChain ecosystem actively. We want to grow and educate our community so that they can benefit from the 5ireChain ecosystem more.”
Vilma Mattila, co-founder, and CBO of 5ireChain, “5ireChain is a fifth-generation blockchain ecosystem that caters to the problem of sustainability that no blockchain has been able to solve to leapfrog from the current Industry 4.0 to Industry 5.0 - Where businesses act as a force for good; and profits & benefits co-exist.”