Helium, a US-based provider of peer-to-peer wireless communications technology, has secured $111m in a funding round featuring quantitative trading firm Alameda Research.
Venture capital firm Andreessen Horowitz led the round, which also included Ribbit Capital, 10T Holdings and crypto-focused fund Multicoin Capital.
Founded in 2013, Helium offers a decentralised peer-to-peer wireless network powered by blockchain and monetised by cryptocurrency.
The network uses two units of exchange: data credits and HNT, a new cryptocurrency earned when hotspots validate wireless coverage and transfer device data. It currently includes 100,000 hotspots in more than 11,000 cities worldwide, spanning 112 countries.
The company plans to use the funding to accelerate the deployment and expansion of its decentralised 5G network.
Helium raised $16m in a series A round led by Khosla Ventures in 2014, with contributions from internet company Digital Garage, FirstMark, Slow Ventures, SV Angel and angel investor Marc Benioff.
Two years later, GV, the corporate venturing subsidiary of internet and technology conglomerate Alphabet, led Helium’s $20m series B round, which included Hartford Steam Boiler Ventures, the corporate venturing arm of reinsurance firm Munich Re’s Hartford Steam subsidiary, as well as FirstMark Capital and Khosla Ventures.
GV returned in June 2019 for a $15m series C round which also included Munich Re/HSB Ventures, a corporate venturing unit for reinsurance firm Munich Re. Union Square Ventures and Multicoin Capital co-led the round, with backing from Khosla Ventures and FirstMark Capital.