5ire becomes India's 105th unicorn
What: Indian startup 5ire has become a unicorn company in just 11 months.
Startup type: 5ire is a sustainable blockchain startup.
5ire: 5ire works on a 5th generation Layer-1 (L1) blockchain network. 5ire claims to be the only green blockchain unicorn in India which rewards its validators and creditors for taking sustainable actions. It is based on the Layer 1 blockchain network that can approve transactions without the need of a third network.
Unicorn: For the knowledge of our readers, unicorn startups are those startups that have a valuation above $1 billion. The blockchain startup 5ire has become a unicorn company by raising $100 Mn in the Series-A funding round led by UK-based conglomerate SRAM & MRAM.
Funding valuation: The startup has raised funding at the valuation of $1.5 billion.
Unicorn No: 5ire is the 105th company to attain unicorn status in India.