Breaking Stereotype Was A Key Hurdle Founder of New Unicorn ‘5IRE’

Pratik Gauri

Blockchain platform ‘5IRE’ founder and CEO Pratik Gauri and his partner Prateek Dwivedi on Monday said breaking stereotypes is the biggest obstacle in their journey.

The Company Has Raised $100 Million and Achieved Unicorn Status

Back in India from the Malaysia visit, the two were greeted with much applause at the airport and the family and well wishers extended a warm welcome to the founders of ‘5IRE’, the 105th Unicorn of India, valued at $1 billion .

Rajya Sabha leader and Union Minister of Commerce and Industry, Piyush Goyal also tweeted a congratulation for the two, praising them for their entrepreneurial skills and achieving unicorn status.

Talking about being praised by the government, Prateek said, “We got a lot of help from our government, media, corporates, our team, family and friends, I mean to be grateful also describe my feeling for the people. does not. Those who believe in us.”

Blockchain startup ‘5IRE’ has raised $100 million in Series A funding from UK-based conglomerates SRAM and MRAM, taking its valuation to $1.5 billion and becoming a new unicorn in the country.

The Company Was Founded in August 2021 By Entrepreneurs Gauri and Dwivedi Along With Web3 Financier Wilma Matilia

About her journey and some of the deeper challenges she faced, Gauri said: “We started our journey in a tea stall, Prateek and I were thinking of creating something that would help 100 million people, we They wanted to make their lives better, and the blockchain company was the answer.

We were certain that within a year we wanted to achieve unicorn status, one of the fastest growing billion dollar companies in the world.”

Gauri said, “Initially no one believed us, we come from very moderate households, we were not rich, so breaking the stereotype that children from middle households can dream big and build something big. , was the biggest challenge for us, but we did it.”

‘5IRE’ previously raised $21 million in its seed round at a valuation of $110 million, with participation from both private and institutional investors such as Alphabet, Marshland Capital, Launchpool Labs, MoonRock Capital and others.

Describing his company and the basic philosophy of the 5th Industrial Revolution, Gauri said that ‘The Fifth Industrial Revolution thesis is something that I have created, which aims to find the space between profits and charity, we business only about profits. are thinking. And the big rich houses only believe in charity, but I wanted to create a balance and working environment between the two.”

With India as its operational hub, the company plans to expand and venture into various regions and three continents: Asia, North America and Europe.

Featured Image via

Trending Today

The latest on what’s moving world – delivered straight to your inbox