Ledger, the creators of the insanely popular Ledger hardware wallet are are preparing for another round of funding, this time in an effort to attract institutional investors.
Ledger’s President, Pascal Gauthier revealed that, while their Series B funding raised in January of this year was aimed to attract Venture capitalists who can advise on their business, their newest round intends to attract industrial partners who will also sign commercial contracts with Ledger.
Forbes reports that the upcoming fundraising round includes tech giants such as Samsung, Google, and Siemens, with talk that Ledger’s valuation can exceed $1 billion.
This is another move in Ledger’s attempt to entice the institutional entities into entering the crypto market.
They are further teaming up with Nomura Bank, a Japanese global investment bank, to create a crypto custody solution for institutional investors.
Earlier this year, Ledger announced that they are developing a crypto custody solution geared towards institutional investors, called Ledger Vault.