5ire is a fifth generation, level 1 blockchain network that was founded by two entrepreneurs of Indian origin, namely Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila. The three co-founders began the company nine months ago. 5ire’s primary goal is to create 5ireChain, a user-centric sustainability-driven blockchain. This is achieved by embedding sustainability both in 5irechain’s base layers and in the upper decision-making that democratically commands the network.

5ire were quickly able to raise a funding of US$21 million in its seed round at a valuation of US$110 million with participation from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, and amongst many other investors.

5ire, the first level sustainable blockchain and one of the fastest growing unicorn companies. The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations and core area of focus. 5ire majority of the employees are based out of India. It plans to increase its headcount to 150 from 100 at present.

Speaking on the Joint Venture Ceremony, Dr Sailesh Lachu Hiranandani, Chairman of the SRAM & MRAM group, said, “We have great confidence in moving forward with investments in sustainable technologies. As an entrepreneur and a financial visionary,  I have always believed in finding better ways to do things, and 5ire is committed to finding sustainable solutions for the 17 UN SDGs. We are delighted to be partnering with them in this joint-venture project.”

Pratik Gauri, CEO and Founder of 5ire, present at the Official Joint-Venture Signing Ceremony, who said, “We are thrilled to find a partner who also wants to promote our vision of ‘For-benefit’ ventures in the 5ire ecosystem to transition the world from the 4th Industrial Revolution to the 5th Industrial Revolution. As I always say, I feel that sustainability is not a one-time phenomenon, but a consistent development benchmark here on forward.”

SRAM & MRAM Group, founded in 1995, is the brainchild of Chairman - Dr. Sailesh Lachu Hiranandani, He is a visionary leader with a background in Financial and Risk Management strategies and Forex Management. He started his journey with commodity trading in India and Cambodia and gradually entered FX hedging and rollover market in Tokyo, Hongkong and Singapore. During this time, the world currency markets were rapidly fluctuating and he wanted a reliable system to manage the currency risk. This led to him acquiring considerable skills in the area of Finance and Trading. He expanded his Group and spread his presence in Agriculture, Hospitality, Media & Publishing, Embedded System, Animation, Information Technology, Cyber Security, Airport Solutions, Infrastructure Management, and Digital Marketing Solution.