Helium Raises $200M, Rebrands as Nova Labs

Helium Raises $200M, Rebrands as Nova Labs

The Helium network currently includes further than 600,000 hotspots.

Key Takeaways

  • Helium Inc. has raised $200 million at a $1.2 billion valuation and rebranded to Nova Labs.
  • Tiger Worldwide and Andreessen Horowitz led the Sequence D spherical.
  • The Helium network features a network of personally-owned wireless hotspots that grant Cyber web discover entry to.

Helium has rebranded to Nova Labs after a $200 million series D elevate.

Helium Soars

The builders within the abet of 1 of the discontinue 50 cryptocurrency networks, Helium, relish executed unicorn web utter with their series D elevate. 

Helium Inc. has reached a $1.2 billion valuation in a $200 million series D elevate. Tiger Worldwide Administration and Andreessen Horowitz relish been the leaders of the funding spherical. FTX Ventures also participated.

The firm has also modified its name to Nova Labs, a chase that the team hopes will distance itself from the decentralized network of the same name. The team reportedly will spend the funds to affect unique merchandise that compose essentially the many of the Helium network.

The network includes hotspots, owned and operated by folks, that grant discover entry to to the Cyber web. These hotspot house owners are rewarded in HNT tokens when their hotspot is utilized by others. Many a ramification of styles of gadgets can spend Helium hotspots to connect with the Cyber web, corresponding to flood meters and pet-tracking collars. 

Helium, which used to be promoted as the “Other folks’s Network,” currently has spherical 683,470 hotspots, a host that has grown instant within the previous year. As of January, the network had spherical 450,000 hotspots. 

At press time, the HNT token is up over 8% this day, while the majors, Bitcoin and Ethereum are flat. Helium has a entire market capitalization that sits at roughly $2.9 billion. 

Disclosure: At the time of writing, the creator of this fraction owned BTC, ETH, and several other cryptocurrencies. 

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