{"id":567200,"date":"2021-10-04T16:32:08","date_gmt":"2021-10-04T16:32:08","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=567200"},"modified":"2021-10-04T16:32:08","modified_gmt":"2021-10-04T16:32:08","slug":"sustainability-driven-ecosystem-5irechain-raises-another-15-million-in-their-latest-round-to-reach-27-million-total-funding-to-date","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/sustainability-driven-ecosystem-5irechain-raises-another-15-million-in-their-latest-round-to-reach-27-million-total-funding-to-date_567200.html","title":{"rendered":"Sustainability Driven Ecosystem, 5ireChain, raises another $1.5 Million in their latest round to reach $2.7 Million total funding to date"},"content":{"rendered":"
Proceeds will help the company to aggressively expand its sales and \u200emarketing efforts, as well as broaden and accelerate product \u200edevelopment.<\/div>\n

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5ireChain<\/a>, the world’s first sustainable blockchain, announced today it has raised $1.5 million in its second round of private sale. Per the spokesperson at 5irechain, Launchpool Web3 Accelerator, Alphabit Fund & Magnus Capital led the funding round with participation from X21 Ventures, Coach K, Brotherhood Capital, and prolific high profile angel investors. <\/p>\n

This comes just one week after the company’s $1.2 million fundraise, which included one round of angel funding and one round of private sale. The new round of funding brings the total amount raised to $2.7 Million. 5irechain’s final private sale 3 of $2.5m is open for allocations from today. <\/p>\n

5ireChain is preparing to launch the first-ever “Sustainable Distributed Computing Platform” – a blockchain solution capable of high transaction throughput and subsecond finality, while offering strong cross-chain interoperability, scalability, and decentralization features.<\/p>\n

5ireChain is a tier 1 high-performance distributed computing platform with lavish runtime functionalities oriented towards sustainability at the consensus level.<\/p>\n

Founded by serial impact entrepreneur Pratik Gauri, veteran internet marketer Prateek Dwivedi & renowned blockchain VC Vilma Mattila, 5ireChain claims to be the fastest and most scalable blockchain, thanks to its core technology, the “Proof of 5ire” consensus mechanism, which also integrates sustainability & social impact at the consensus mechanism level by empowering companies to build, adapt and get rewarded for their sustainable practices. 5ireChain, according to the team’s press release, will have a transaction processing speed (TPS) of 40,000 Tx\/s.<\/p>\n

Discussing the investment, 5ireChain’s Co-founder and CMO Prateek Dwivedi said that the firm aims to “accelerate the development of the 5ireChain ecosystem.” <\/p>\n

“We invite the community to deploy their Dapps on our ecosystem, that offers near-free gas consumption with high transaction throughput, sub-second transaction finality, and interaction capabilities with the runtime”, added Vilma Matilla, 5ireChain’s CBO. <\/p>\n

“We’ve seen the challenges that the blockchains are facing with regards to sustainability, and we’re excited to give them an incredibly simple alternative with enhanced performance,” said Pratik Gauri, 5ireChain’s Co-founder and CEO. <\/p>\n

“The 5ireChain team is building towards a better tomorrow with a sense of urgency that Magnus Capital is proud to support. From limiting the stress on our planet’s climate by using a more friendly governance mechanism, to providing a fairer distribution of rewards to its users and “validators”. 5ireChain is imperative in our goal of moving into a cleaner and more unified future.”, said Jon, cofounder at Magnus Capital.<\/p>\n

“The way 5ireChain team articulated their value proposition immediately caught our attention and demonstrated how highly experienced this team is in their subject matter. We are honored to support them & can’t wait to witness a more environmental-friendly future led by 5ire”, said Shane McQuillan, VP Strategy of Alphabit Fund.<\/p>\n

About 5ireChain<\/strong><\/p>\n

5ireChain is the world’s first sustainability-driven blockchain platform that allows enterprises to be more sustainable & innovative, therefore accelerating the implementation of the United Nations’ 2030 Agenda for Sustainable Development.<\/p>\n

5ireChain is a fifth-generation blockchain that aims to bring a paradigm shift from a for-profit to a for-benefit economy. 5ireChain is on a mission to cater to the never-before solved problem of sustainability, and create a platform to transform the businesses from the current Industry 4.0 to Industry 5.0 – where businesses act as a force for good; and profits & benefits co-exist. <\/p>\n

You can find more information about 5ireChain by visiting the links provided below:<\/p>\n