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Ledger reportedly attracts investments from tech giants Google and Samsung

Hardware wallet manufacturer Ledger has reportedly enticed interest from the likes of Samsung and Google ahead of its next funding round.

Written by Bryan Smith Published on

To say Ledger is on a roll might be an understatement. After reportedly selling more than one million hardware wallets in 2017, the firm reportedly sits on an estimated profit of $29 million USD.

Now, ahead of a new funding round, the manufacturer has reportedly enticed interest from the likes of Samsung, Siemens, and Google’s venture capital business, GV.

With Ledger’s valuation reportedly stretching into the $1 billion USD mark, the company concluded a $75 million USD series B funding round in January this year. In December alone, the company’s popular Ledger Nano S charted on Amazon’s bestseller list – beating out the likes of Trezor.

Now the firm is reportedly seeking investment from “industrial partners who will also sign commercial contracts with the crypto startup.

The funding round would reportedly be geared to establish Ledger’s expansion into consumer and business markets. Earlier this year, the company unveiled Ledger Vault – a multi-authorization cryptocurrency wallet solution designed to enable financial institutions to secure their cryptocurrency holdings.

The fact that the firm has apparently drawn interest from technology titans is, perhaps, unsurprising. Samsung, in particular, has shown interest in cryptocurrency markets – earlier this year, the South Korean chaebol announced a deal with Taiwanese manufacturer TSMC to mass produce ASIC chipsets – silicon that is specifically designed to mine cryptocurrencies based on a specific hashing algorithm.

In more experimental endeavors, the South Korean firm even succeeded in repurposing some 40 used Galaxy S5 smartphones into a Bitcoin mining rig.

While Google has been less forthcoming, company co-founder Sergey Brin has reportedly disclosed that he is mining Ethereum with his son while attending the 2018 Blockchain Summit in Morroco.

It remains to be seen whether Ledger will successfully attract commitment from either firm, or whether it will proceed to accept funding from either company into its next round.

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Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

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