Quick take:
- The round also attracted participation from Reciprocal Ventures, 6th Man Ventures, Chapter One, and Propel.
- Former Coinbase CTO Balaji Srinivasan, Multicoin Capital’s Kyle Samani, and Solana co-founders Anatoly Yakovenko and Raj Gokal joined as angel investors.
- According to The Block, Foundation Capital General Partner Steve Vassallo will join Helius’ board of directors.
Helius has completed a $9.5 million Series A round led by Foundation Capital. The fundraising also attracted participation from Reciprocal Ventures, 6th Man Ventures, Chapter One, and Propel, with former Coinbase CTO Balaji Srinivasan, Multicoin Capital’s Kyle Samani, and Solana co-founders Anatoly Yakovenko and Raj Gokal joining as angel investors.
Helius was co-founded by former Coinbase and Amazon engineers to accelerate the process of building new Web3 apps on Solana. Its tools help developers to save time and money. The company offers a technology stack that fosters blockchain interactions and facilitates communication between apps on the network.
Helius CEO Mert Mumtaz told The Block his company plans to use the capital to build more tools and expand its team of 14, The Block reported.
According to the announcement, Foundation Capital’s leading role in the round also gives General Partner Steve Vassallo a seat on Helius’ board of directors.
The company has big plans for the coming year, including improving the state of its remote procedure controls (RPCs) and creating a new RPC client.
Commenting on the announcement, Helius CEO Mert Mumtaz said in a statement: “Over the next year, we are aiming to ship generalised compression for Solana, improve the state of RPCs on the chain and create a new RPC client, and onboard thousands of web2 developers, and larger institutions, onto Solana.”
The latest round brings the total raised to date to $12.6 million following a $3.1 million seed round announced in October 2022, which was co-led by Reciprocal Ventures and Chapter One.
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