5ire is a blockchain ecosystem that brings sustainability, Technology & Innovation to build the 5th industrial revolution (5IR). The Project was founded by Pratik Gauri, Prateek Dwivedi, and Vilma Mattila, who are proponents of blockchain technology. With growing capacity and revolution, a few months back, the mission of the 5ire ecosystem evolved to embed benefit paradigms at the heart of the blockchain, highly motivated practices that align with the United Nations Sustainable Development Goals (SDGs), facilitate the transition from the 4IR to 5IR and accelerate the implementation of the UN 2030 Agenda for Sustainable Development.
Just recently, the organization announced today that it had secured a $100 million capital commitment from GEM Global Yield, (a $3.4 billion, an alternative investment group with operations in Paris, New York, and the Bahamas where it manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries.) 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 $110m upon receiving a funding of $21 million in its seed round from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, among other investors.
Pump it Hard
With an easy governance system, the capital secured has however been gainfully planned. The set-out plans include:
- The Expansion of the ecosystem involves liaising with government stakeholders in India and upcoming international markets. Investing in technology and resources adding tech developers to build a more robust 5ireChain infrastructure
- Invest in research for innovation and keep building the most disruptive technology as well as a for-benefit consensus mechanism
- Amplifying human capital and hiring the best talent in the industry across sales, marketing, and product development, among other functions
- Enhance adoption of 5ireChain across crucial target audiences – Governments, Fortune 500 companies, Family Offices, Universities, and civic bodies
What did the Happy Feets got to say?
Consequent to the good tidings which will serve as a boost, the CEO and Co-founder Pratik Gauri said that the infusion of capital from GEM is aligned with 5ire’s vision of going public. He further buttressed that the organization has successfully closed an oversubscribed seed round of $21 million which took its valuation to $110m within two months of incorporation. The organization is really excited about the $100M investment from GEM as it is a testimony to the market confidence in its offering.
Here’s a quote; “I am very excited about our partnership with GEM and looking forward to finding synergies in how we further promote our vision of ‘For-benefit’ ventures in the 5ire ecosystem to transition the world from 4th Industrial Revolution to 5th Industrial Revolution, meet the 2030 SDGs and beyond. I feel that sustainability is not a one-time phenomenon, but a consistent development benchmark here forward”.
What 5fire has been Up to
5ire has been working diligently on the UN’s Sustainability goals and partnering with nations across three continents as the first step in this direction. By signing MOUs, 5ire has taken this first step in the public-private partnerships in India, Nigeria, and the United States to bring their technological solutions for sustainability, better governance, more just and transparent law enforcement, and more.