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Crypto Wireless Company Helium Hits Unicorn Status

  • Helium is changing its name to Nova Labs with the new funding
  • The company created a wireless network powered by blockchain

Helium Inc., the creator of a blockchain that powers a decentralized wireless network, raised $200 million in a funding round led by Tiger Global Management and Andreessen Horowitz. The startup, valued at $1.2 billion with the latest funding, also said Wednesday that it is changing its name to Nova Labs Inc.

The new name will create further separation between the company and the Helium blockchain, which is designed to be managed by its users, said Nova Labs founder and Chief Executive Officer Amir Haleem. The company will use the funding to build new products that use the Helium wireless network, he said.