Blockchain startup Helium has raised $200 million to develop Internet of Things

The company’s valuation rose to $1,2 billion at the end of the round

21.02.2022 - 09:30

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What’s new? The Axios news portal has reported the successful completion of another funding round for the Helium project. The blockchain startup managed to raise $200 million from major investors and venture capital funds following the Series D round.

News source on the Axios website

Who participated? According to Axios, the company was backed by Tiger Global, Khosla Ventures, GV, Multicoin Capital, Munich Re Ventures, FTX Ventures, and FirstMark Capital. The investors believe that Helium can become a springboard to the sustainable development of Web 3.0.

What will the funds be used for? The Helium team works on decentralized telecommunications technologies and solutions for the Internet of Things (IoT). The startup is developing a network of more than half a million hotspots that provides work and connectivity for nearby IoT devices. In this, the owners of the hotspots receive HNT tokens as a reward for supporting a decentralized network.

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