Alphabet, Goodyear, Liberty Global and Deutsche Telekom all took part in a round hiking the crypto IoT network developer's valuation to $1.2bn

US-based decentralised wireless communications technology provider Helium rebranded to Nova Labs on Wednesday having secured $200m in series D funding from investors including corporates Alphabet, Goodyear, Liberty Global and Deutsche Telekom.

Tiger Global Management and Andreessen Horowitz co-led the round, which included NGP Capital, the venture capital firm funded by communications equipment maker Nokia, as well as Pantera Capital, Ribbit Capital, Seven Seven Six and Kingsway Capital.

Internet and technology group Alphabet, tyre producer Goodyear and telecommunications firm Deutsche Telekom participated in the round through GV, Goodyear Ventures and Telekom Innovation Protocol respectively. It valued the company at $1.2bn post-money, according to Decrypt.

Nova Labs has developed a blockchain-backed decentralised peer-to-peer wireless internet-of-things network monetised through cryptocurrency, letting users set up network devices to expand coverage while mining crypto.

Quantitative trading firm Alameda Research took part in a $111m funding round for the company in August 2021 that was…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.