5ire Ecosystem Receives $1.1Million Investment From Sanctum Global Ventures And Diamond Hands Taking Total Funding To $10Million
The sustainability-driven blockchain platform, 5ire, has yet again received an investment worth $1.1m to scale its technology by Sanctum Global Ventures, a VC firm, and Diamond Hands, an ecosystem fund that invests in leading blockchain and cryptocurrency projects. According to official reports, this brings the total raise to $10M, which includes some top venture capitalists in the blockchain industry and HNWIs.
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Founded by Pratik Gauri, Prateek Dwivedi & Vilma Mattila in 2021, 5ire is attracting the attention of influential global players in the growing crypto space, their latest investors, Sanctum Global Ventures and Diamond Hands are focused on investing in socially impacting technology portfolios and digital assets transformation.
“After a long journey to get here, we are excited and thrilled to have the backing of Sanctum and Diamond Hands. To have these two backers in the space further demonstrates our commitment for a more sustainable world and matches our ambition to make 5ire a leading blockchain-based social impact ecosystem.”, stated Pratik Gauri, CEO & Cofounder of 5ire.
Sanctum Global Ventures is an ecosystem fund that invests, incubates, and accelerates unicorns within the emerging tech, healthcare, and real estate space that contribute towards the development of the Global Digital Economy, Conscious Cities & Social Impact. It supports and empowers socially responsible companies whose works are strategically positioned to achieve global sustainable development.
“I’m really excited to partner with 5ire as our collaboration creates further opportunities to achieve our commitment to supporting the 17 SDGs (Sustainable Development Goals). Through the SDG Impact fund, we will be able to develop new protocols that enterprises can utilize to achieve the launch and development of Conscious cities. These cities are our future.”, said Dunstan Teo, President of Sanctum Pte Ltd. Sanctum Global Ventures.
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Following the decision of Diamond Hands and Sanctum Global Ventures to fund and foster the 5th generation blockchain ecosystem, 5ireChain will be further enabled to expand and accelerate its goal of creating a user-focused and sustainability-driven ecosystem. 5ireChain is the first ecosystem addressing the challenges of blockchain sustainability at the very core while bridging the gap between corporate enterprise and social impact. The ecosystem aims to build a for-benefits economy with a primary mission to accelerate the implementation of the United Nations 2030 Agenda for Sustainable Development.
“We pride ourselves in partnering with businesses who share our vision. We are delighted to be collaborating with 5ire as they are aligned with our passion and commitment to delivering the United Nations Sustainable Development Goals (SDGs). Together, we can achieve a huge impact globally.”, said Rico Pang, Co-founder & CEO of Sanctum Global Ventures.
Consequently, this investment will help 5ire to accelerate its product development as it prepares to launch the first-ever “Sustainable Distributed Computing Platform”. This blockchain solution is capable of high transaction throughput and sub-second finality, while offering strong cross-chain interoperability, scalability, and decentralization features.
The company is looking to leverage its blockchain technology to transform the society, economy and the environment and become a leading blockchain ecosystem that will solve issues related to sustainability using its core technology “Proof of 5ire”.
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