5ireChain is described as a cutting-edge blockchain platform that focuses on AI, decentralized perpetual exchanges (Perp DEX), and real-world assets (RWA). The company is running a $10 million grant program intended to nurture projects within its ecosystem. GotBit Hedge Fund has made a substantial seven-figure investment to support 5ireChain and its grant initiatives. The articles frame the investment as a strategic endorsement of 5ireChain’s vision and its potential to drive blockchain innovation. Exact financial details of the investment were not disclosed in the coverage. The reporting emphasizes the partnership’s role in accelerating development and adoption across AI, Perp DEX, and RWA use cases. 5ire is a level-1 blockchain that positions itself as a sustainable chain built around a proprietary validating mechanism called 'proof of benefit', aligned with the 17 UN Sustainable Development Goals and ESG parameters. Founded in August 2021 by Pratik Gauri, Prateek Dwivedi and Vilma Mattila, the company is currently pre-revenue but expects to start generating revenue from November and targets $1 billion in revenue within three years. 5ire has invested prior capital into talent acquisition, technology development, patent filings, and sales and marketing. The startup currently has 105 employees, about 70% of whom are based in India, and plans to grow headcount to 150 while extending its footprint across Asia, North America and Europe with India as its hub. The company raised a $21 million seed round last October at a $110 million valuation and reported it still held roughly 49% of that seed capital. Following the recent Series A, 5ire is valued at $1.5 billion and has been reported as India’s 105th unicorn. 5ireChain positions itself as a fifth-generation, tier-one smart contract chain and distributed computing platform focused on sustainability. Its core technology, “Proof of 5ire,” integrates sustainability at the consensus and governance level by economically rewarding companies and individuals for sustainable practices. The platform emphasizes developer friendliness with features the company cites such as no-code smart contracts, simplified addresses, and customized functionalities for Web3 solutions. Leadership includes co-founder and CEO Pratik Gauri and co-founder and CBO Vilma Mattila, and the project frames its mission around accelerating the UN 2030 Agenda for Sustainable Development. Financially, 5ireChain completed a $190k angel round (closed in 28 minutes) and a $1M private sale round (completed in 72 hours) and said a second private sale of $1.5M will open to institutional investors. The company stated the funds will be used to develop its technology and expand the team.

Total raised

$101M

Funding rounds

3

Latest round

Series A

Latest activity

Jul 2022