Nova Lands $200M Funding Round for Wireless Networks

Nova Labs received $200 million in funding from investors led by Tiger Global and Andreessen Horowitz for its Helium Network, which offers “decentralized wireless networks powered by crypto incentives,” CEO Amir Haleem blogged Wednesday. “The funding will enable Nova Labs to invest in the Helium ecosystem through hiring additional development resources, accelerating continued wireless protocol support, and building new applications on top of the Helium Network,” Haleem said. In October, Dish Network became “the first major carrier to utilize the Helium Network’s crypto incentive model,” he said: “Today, telecommunications companies like Deutsche Telekom, Liberty Global, NGP Capital back Nova Labs as investors.” The network “consists of more than 682,000 Hotspots built by third-party manufacturers” and is “used daily by companies ranging from titans of the Fortune 500 to local businesses,” he said.