NEW YORK (InsideBitcoins) — Paris-based bitcoin hardware wallet provider Ledger has announced a €1.3M seed round (just under $1.5 million USD) earmarked “to accelerate the development of its bitcoin security solutions.”

The funding was lead by XAnge Capital, accompanied by Pascal Gauthier, Hi-Pay, Fred Potter, Thibaut Faurès Fustel de Coulanges and Alain Tingaud Innovations.

The company launched its first hardware wallet, the Ledger Nano last December.

[Read More: Review: How Well Does the Ledger Wallet Nano Balance Bitcoin Security and Convenience?]

“Having successfully closed our seed round only two months after the public launch of our first consumer ready product is not only showing the growing interest for the Bitcoin ecosystem, but also the very strong technical differentiator Ledger is bringing to the industry” said Eric Larchevêque, CEO in a statement.

Ledger said its goal is “to develop and leverage its core secure operating system LedgerOS in the most diverse set of secure devices and architectures: smartcards, hardware security modules and trusted execution environments”

The company is opening a U.S. subsidiary, Ledger Technology Inc., with offices in San Francisco.

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