5ireChain, a fifth-generation blockchain that aims to bring a paradigm shift from a for-profit to a for-benefit economy, secures $1 Million in a Private Funding round led by Marshland Capital. This brings the total funding to this innovative blockchain startup to $1.19 million. It also opens a fresh private round today allowing more investors to participate.
5ireChain is focused on solving the problem of sustainability that it claims no other blockchain has been able to solve. It will help leapfrog from the current Industry 4.0 to Industry 5.0 – Where businesses act as a force for good; and profits and benefit co-exist.
The core technology, “Proof of 5ire” integrates sustainability at the consensus mechanism level by economically rewarding companies for their sustainable practices.
5ireChain’s advisory board comprehends a diversity of Individuals such as: CEO of Lunarcrush, Aleph Zero Team, Node Kapital, Alphabit Fund, Singularity DAO Team, Kava Labs, leadership at MATIC and Members from Deloitte Blockchain Labs.
The company will use the new funds to develop the 5ireChain’s Technology as well as expanding the Team.
5ireChain Private Funding Round
5ireChain closed its angel round earlier this month raising $190,000 in just 28 minutes from prolific angel investors and HNIs.
The private funding round was completed in 72 hours. This new round was led by Marshland Capital with participation from Jan Strandberg (Founder of Yield.app), Jad Zouk (Advisor at Private Office of HH SJM AlMaktoum UAE), Sky Ventures, Millionaire Mentor, and Tarang Bhargava (Founder of VCommission).
5ireChain announces a second private sale round of $1.5M which opens today allowing more institutional investors to participate.
5ireChain Implementing SDG In Blockchain
5ireChain is guided by the mission of creating a world with a for-benefit economy by accelerating the implementation of the United Nations 2030 Agenda for Sustainable Development.
Vilma Mattila, co-founder and CBO of 5ireChain, said:
“5ireChain will enable teams to build solutions for the Web3 ecosystem in a fast and user-friendly manner with No Code Smart Contracts, Simplified Addresses and Customized Functionalities.”
5ireChain aims to build solutions for the Web3 ecosystem while solving the problem of high computing power used in PoW and financial exclusion of PoS.