5ire has secured funding from the innovative technology group SRAM & MRAM, establishing itself as the fastest-growing blockchain unicorn in India and the only sustainable blockchain unicorn globally, with a valuation of $1.5 billion.
5ire is creating a blockchain ecosystem that harmonizes sustainability, technology, and innovation to propel the fifth industrial revolution. The initiative seeks to motivate practices aligned with the United Nations’ Sustainable Development Goals (SDGs) to transition from the fourth to the fifth industrial revolution. The platform actively supports decentralized autonomous organizations (DAOs) and collaborative working groups to accelerate the implementation of these SDGs.
Founded in August 2021 by Pratik Gauri, Prateek Dwivedi, and Web 3.0 financier Vilma Mattila, 5ire initially raised seed capital of $21 million at a valuation of $110 million, attracting participation from prominent private and institutional investors, including Alphabit, Marshland Capital, Launchpool Labs, and Moonrock Capital.
The newly acquired funds will be allocated to expand operations throughout Asia, North America, and Europe, with an emphasis on maintaining India as the operational headquarters.
Dr. Sailesh Lachu Hiranandani, chairman of the SRAM & MRAM group, expressed confidence in investing in sustainable technologies. “As a scientist, I’ve always sought improved methods, and 5ire is dedicated to addressing the 17 UN Sustainable Development Goals. We are optimistic about the leadership team’s capabilities at 5ire and wish them great success.”
Pratik Gauri, CEO and founder of 5ire, articulated the firm’s commitment to infusing sustainability into blockchain technology, aiming to transition the business model from ‘for-profit’ to ‘for-benefit’. He noted, “In just 11 months, becoming the world’s first and only sustainable unicorn from India serves as clear evidence we are on the right track. We are grateful for the trust the SRAM & MRAM group has placed in us and are excited to partner with an organization that is equally dedicated to fostering the shift from the fourth to the fifth industrial revolution.”