Helium

Helium offers an IoT developer platform designed to simplify connecting IoT devices to the internet by providing a peer-to-peer wireless network. The platform rewards network operators with its own cryptocurrency, Helium (HNT), which they earn by verifying network transactions, adding new blocks to the blockchain, and performing other tasks​​.

Helium's product offerings center around the Helium Network and Helium Hotspots. The Helium Network is a decentralized wireless infrastructure that provides coverage for low-power IoT devices. Users can deploy a Helium Hotspot in their home, office, or other locations to provide their area with wireless network coverage and earn Helium tokens. These hotspots work together to form a global wireless network and perform “Proof-of-Coverage.” The Helium Network is built on open-source technology and is governed by its worldwide community, with stewardship from the Helium Foundation. This approach makes the network scalable and affordable, with sensors costing only cents to run per year​​.

The Helium Network successfully upgraded to Solana in April 2023, enabling an improvement in scalability and reliability for the decentralized wireless network. The migration brings faster transactions and smart contract capabilities, and frees up resources for network development. Helium has become the largest LoRaWAN network globally, with coverage in numerous cities and rapid growth in its 5G network. The move to Solana addresses scalability challenges and offers benefits such as lower transaction costs, access to DeFi, and integration with the Solana ecosystem. The network will continue to support open-source development and serve as a base layer for wireless connectivity projects.

Key customers and partnerships

In June 2023, Helium announced that it had joined Deutsche Telekom’s “IoT Creators” platform to offer an integrated LoRaWAN Network Server (LNS) that enables users to onboard and manage devices on the Helium network.

Funding and financials

The company raised USD 200 million in Series D funding in February 2022 at a USD 1.2 billion valuation. The funding round was supported by new and existing investors, including Tiger Global, FTX Venture, Khosla Ventures, Multicoin Capital, Munich Re Ventures, and FirstMark Capital. The proceeds were used for investment in network infrastructure and to support hiring plans.