Ledger, a manufacturer of hardware wallets for cryptocurrencies, raised EUR 100 million (USD 108 million) in an extended Series C funding round at a valuation of EUR 1.3 billion (USD 1.4 billion), similar to its previous funding round. Its total funds now stand at USD 576.4 million.

The round saw participation from existing investors including 10T, Cité Gestion Private Bank, and Cap Horn, as well as new investors such as True Global Ventures, Digital Finance Group, and VaynerFund.

It aims to utilize the fresh capital to expand its network of distributors, as well as increase the production and development of products. 

The company claims to have sold one million devices between June 2022 and February 2023, with lifetime unit sales of six million.

Formed in 2014, Ledger offers hardware cryptocurrency wallets that offer a high level of security as the private key is stored securely within the device in a certified secure chip. These are shaped similarly to USB keys and feature a tiny screen to confirm transactions on it.

In addition, the company offers staking services and enterprise solutions to secure crypto assets with governance and treasury management features.