Published: 31.03.2022
Article reading time:
2 minutes.
Technology company Helium has closed an investment round and announced a name change.
The creators of the blockchain of the same name announced that it has attracted funds from investors in the amount of $200 million, Bloomberg reports. Helium has reached a market valuation of $1.2 billion, becoming one of the largest technology startups in the industry. The round was led by investment firm Tiger Global, as well as Deutsche Telekom, GV (formerly Google Ventures), Andreessen Horowitz and several others.
Helium founder and CEO Amir Haleem said the proceeds will be used to expand the team and create new products. In addition, the company will change its name to Nova Labs. This is done so that customers can distinguish between Nova Labs, the Helium blockchain, and the Helium token (HNT). Since the blockchain has become more open since its inception and now it is a network of different people and services, it was important for the company representatives to emphasize that they are not the sole owners of the network.
The Helium blockchain does not offer financial services, but is a wireless network with many devices involved. Initially, the network was developed for the Internet of things (IoT), but subsequently became available on almost any device. Now it has more than 660,000 connected devices scattered across different cities and working as blockchain nodes.
Last October, Helium entered into a partnership with Dish Network, one of the largest cable TV operators in the US. This, according to the chief operating officer of the company Frank Mong (Frank Mong), will allow the expansion of the Helium 5G network in exchange for a reward in HNT.
Source: Bits
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