Solana (SOL) focused developer platform Helius has received a significant milestone investment of $9.5 million in its Series A funding round. The venture was led by Foundation Capital and received support from notable figures in the cryptocurrency world, including Reciprocal Ventures, 6th Man Ventures, Chapter One, Propel, and individuals such as Balaji Srinivasan, Kyle Samani, and Solana co-founders Anatoly Yakovenko and Raj Gokal.
Investment to Expand Team
The Solana-focused developer platform Helius has secured a $9.5 million investment in a Series A funding round led by venture firm Foundation Capital. The funding round also saw participation from Reciprocal Ventures, 6th Man Ventures, Chapter One, Propel, and key figures in the cryptocurrency space, including Balaji Srinivasan, Kyle Samani, and Solana co-founders Anatoly Yakovenko and Raj Gokal.
Helius CEO Mert Mumtaz stated that Steve Vassallo, General Partner at Foundation Capital, will join the platform’s board of directors and provide valuable guidance on its development journey.
With the new investment, Helius plans to hire four more engineers to expand its team and grow its current roster of 14 full-time employees. Mumtaz expressed that the company’s strategic approach to team expansion aims to enhance technical capabilities while continuing to focus on delivering high-quality developer solutions. The investment will also be used to improve the platform’s technological infrastructure, strengthen its tech stack, and enhance the overall user experience for developers working within the Solana ecosystem.
Helius stands out as a platform specialized in creating developer tools specifically designed for the Solana network, including webhooks and remote procedure calls (RPCs). Webhooks facilitate automatic communication between different applications, while RPCs serve as a tool for developers to interact with Blockchain nodes, simplifying the development process for Solana-based projects.
Company Continues to Focus on Enhancing Solana
Looking ahead, Mumtaz mentioned that Helius has ambitious goals for the coming year, including implementing generalized compression for Solana, improving the on-chain RPC feature, developing a new RPC client, and involving more Web2 developers and larger institutions in the Solana network.
The $9.5 million investment in Helius’s Series A funding round is part of the growing interest and investment in Solana-focused projects within the cryptocurrency world. With strong support from leading investors and a clear roadmap for future development, the company appears poised to play a significant role in advancing the features and accessibility of Solana’s developer ecosystem.
