Helium, a US-based developer of internet-of-things (IoT) technology, completed a $20m series B round led by GV, a corporate venturing subsidiary of internet and technology group Alphabet, on Monday.
Venture capital firms Khosla Ventures and FirstMark Capital also participated in the round, as did Hartford Steam Boiler Ventures, the equipment insurer affiliate of insurance group Munich Re.
Helium produces smart sensors that are currently being trialled by partners in the healthcare, transportation, grocery, food and beverage industries. It has also added Helium Green, an environmental smart sensor capable of monitoring temperature, humidity, barometric pressure, light and motion.
Andy Wheeler, general partner at GV, will join Helium’s board of directors in conjunction with the round.
Wheeler said: “We see significant market potential for IoT in the commercial and industrial world, monitoring things like freezers for cold chain compliance, heavy equipment for preventative maintenance, and air quality inside factories.
“The Helium team has solved many of the issues that have tripped up previous industry attempts at building an IoT platform. The Helium platform has impressive technical architecture, and is easy to manage from both the edge and the cloud.”
Khosla Ventures previously led Helium’s $16m series A round in late 2014, investing alongside internet company Digital Garage, FirstMark, SV Angel, Slow Ventures and angel investor Marc Benioff.