GEM Global Yield LLC SCS, a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets worldwide, has committed to provide $100 million in capital to 5ire. Previously, $21 million was raised in 5ire’s seed round from both private and institutional investors such as Alphabit, Marshland Capital, Launchpool Labs and Moonrock Capital.
“We are the only sustainable blockchain in the world and we will continue to work relentlessly until sustainable practises through blockchain and doing good for benefit, become a way of life for businesses,” commented 5ire’s CMO and co-founder Prateek Dwivedi.
Pratik Gauri, 5ire’s CEO and co-founder, stated, “I am very excited about our partnership with GEM and looking forward to finding synergies in how we further promote our vision of ‘For-benefit’ ventures in the 5ire ecosystem to transition the world from 4th Industrial Revolution to 5th Industrial Revolution, meet the 2030 SDGs and beyond. I feel that sustainability is not a one-time phenomenon, but a consistent development benchmark here on forward.”
To view the full press release, visit https://ibn.fm/au3Qh
About 5ire
5ire is a blockchain ecosystem that brings sustainability, Technology & Innovation to build the 5th industrial revolution (5IR). Founded by Pratik Gauri, Prateek Dwivedi, and Vilma Mattila, proponents of blockchain technology, in August 2021, the mission of the 5ire ecosystem is to embed the for-benefit paradigm at the heart of the blockchain, highly incentivize practises that align with the United Nations Sustainable Development Goals (SDGs), facilitate the transition from the 4IR to 5IR and accelerate the implementation of the UN 2030 Agenda for Sustainable Development. The company’s primary offering is 5ireChain, a first layer, sustainability-driven 5th generation blockchain that ensures adherence to the philosophy of 5IR, creating a net positive impact on the planet and serving humanity.
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