Napster Founder’s IoT Startup to Go Crypto With $15 Million Series C
An internet-of-things (IoT) startup founded in 2013 is adding tokens to its business model with the backing of two of crypto’s best-known funders.
Helium announced Wednesday a $15 million Series C co-led by Union Square Ventures and Multicoin Capital. Investors will acquire equity in Helium as well as a share of the tokens that will accrue to the company over the next several years as they are minted, after its bespoke blockchain goes live, according to a spokesperson.
Previous investors that participated in the latest round included Khosla Ventures, GV (formerly Google Ventures), FirstMark Capital and German reinsurance giant Munich Re. The new round brings Helium’s total funding so far to just under $54 million.
