5IRE seeks to go public; secures USD 100 million capital commitment from global emerging markets

5IRE, the fifth generation blockchain network founded by two entrepreneurs of Indian origin, Pratik Gauri and Prateek Dwivedi, along with crypto financier Vilma Mattila

5IRE, the fifth generation blockchain network founded by two entrepreneurs of Indian origin, Pratik Gauri and Prateek Dwivedi, along with crypto financier Vilma Mattila, announced on Tuesday that the company has secured a USD 100 million capital commitment from GEM Global Yield LLC SCS (GGY) 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 focussed on emerging markets worldwide. Prior to this capital infusion, the company’s valuation stood at USD 110 million upon receiving funding of USD 21 million in its seed round from both private as well as institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, among others.  

By investing in 5IRE, GEM will solidify its foothold in the emerging markets for sustainable level 1 blockchain with a highly diversified portfolio of use cases along with a growing cache of MoUs with government as well as private sector partners.   

These funds will be utilised for the following purposes: 

●     Expansion of the ecosystem involves liaising with government stakeholders in India and the 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 along with a for-benefit consensus mechanism. 

●     Amplifying human capital and hiring the best talent in the industry across sales, marketing & product development, among other functions. 

●     Enhance adoption of 5IREChain across crucial target audiences such as governments, Fortune 500 companies, family offices, universities, and civic bodies.