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Andreessen-Backed 5G Blockchain Network Raises $111 Million

  • Napster’s Shawn Fanning co-founded Helium with Amir Haleem
  • Ribbit, Alameda, Multicoin among participants in the round
Updated on

The Helium Network, a decentralized peer-to-peer 5G wireless network, has raised $111 million in a token sale led by Andreessen Horowitz.

The transaction was structured as a purchase of Helium’s native token, HNT, and included participation from Ribbit Capital, 10T, Alameda Research and Multicoin Capital, according to a statement. The native token is structured to give incentives for the expansion of Helium’s 5G network that provides internet access.