Victor Oluoma 
Helius Raises $9.5M Series A Led by Foundation Capital
Helius, a company co-founded by engineers from Coinbase and Amazon, closed a $9.5 million Series A investment round led by Foundation Capital.
Foundation Capital spearheaded a $9.5 million Series A investment that Helius has successfully closed. Reciprocal Ventures, 6th Man Ventures, Chapter One, and Propel were among the other investors that joined the funding. Angel investors included former Coinbase CTO Balaji Srinivasan, Multicoin Capital’s Kyle Samani, and Solana co-founders Anatoly Yakovenko and Raj Gokal.
To hasten the development of new Web3 applications on Solana, Helius was co-founded by engineers from Coinbase and Amazon. Developers can save both time and money with its tools. The business provides a suite of technologies that streamlines app-to-app communication and encourages blockchain connections.
The CEO of Helius, Mert Mumtaz, told The Block that the funding will go into tool development and hiring additional staff, bringing the total number of employees to fourteen.
The release states that General Partner Steve Vassallo will join Helius’ board of directors due to Foundation Capital’s leadership involvement in the deal.
The development of a new RPC client and enhancements to the company’s remote procedure controls (RPCs) status are among the ambitious goals set for the following year.
“Over the next year, we are aiming to ship generalized 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,” stated Helius CEO Mert Mumtaz in a statement commenting on the announcement.
In October 2022, Reciprocal Ventures and Chapter One announced a seed round of $3.1 million, bringing the total raised to $12.6 million. This most recent round follows that announcement.