5ireChain is a scalable decentralised, sustainable open-source blockchain with smart contract and ESG ranking services. It is a blockchain ecosystem for Impact and SDG related development to help accelerate the United Nations 2030 Agenda for Sustainable Development. 5ire includes 5ireChain, the world’s first sustainable blockchain; 5ire VC, 5ire’s venture capital arm; and 5ire Labs, 5ire’s research and development hub. 5ire uses Machine Learning to track +700 ESG data sources in real-time to form a Sustainability Score for the Validators of the chain. 5ireChain’s transparent on-chain governance mechanism allows everyone to participate in the network democratically, and propose changes which assures a justified fair representation of all the stakeholders.
5ire was founded in August 2021 by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila. The company raised $21 million in Seed funding within two months of incorporation. In February 2022 5ire raised $100 million in equity-based funding from UK-based conglomerate SRAM & MRAM.