Helius, the leading vertically integrated developer platform empowering crypto applications on Solana, proudly announces the successful closure of its Series A funding round, securing an impressive $9.5 million.
Foundation Capital spearheaded the round, joined by esteemed investors such as Reciprocal Ventures, 6th Man Ventures, Chapter One, and Propel, among others.
At the core of Helius lies a resolute mission: to streamline Solana’s intricacies for developers, catalyzing holistic network enhancement from its foundations. Founded in 2022 by seasoned software engineers from industry giants Coinbase and Amazon Web Services, Helius equips developers with a comprehensive suite of tools, facilitating rapid and seamless application development on Solana.
Since inception, Helius has emerged as the backbone of the Solana ecosystem, facilitating pivotal events like the Jupiter airdrop and Helium’s migration to Solana, alongside fueling enterprise integrations with platforms like Discord and Shopify, attested by the company’s official statement.
Craig Burel, Partner at Reciprocal Ventures, emphasized Helius’ unwavering dedication to Solana, affirming the platform’s pivotal role in fortifying the ecosystem.
Solana, recognized among the top-tier layer-1 blockchains, boasts unparalleled latency advantages over competitors, earning the moniker “Ethereum killer.” Notably, SOL token surged over 400% in 2023, ascending to the fifth-largest position, while Ethereum saw a more modest 66% rise in comparison.
However, as Solana scales, Helius observes a concomitant surge in developers contending with intricate infrastructure challenges, diverting focus from application refinement. Mert Mumtaz, CEO of Helius, emphasized the imperative to abstract these complexities, empowering developers to concentrate on innovation rather than infrastructure management.
Mumtaz identified scaling hurdles as a bottleneck hampering the proliferation of crypto applications for mainstream users, stressing the need for cost-effective, scalable, and rapid application development—a void Solana aims to fill.
Drawing from experience at Coinbase, Mumtaz highlighted the impediments posed by accommodating multiple blockchain networks, advocating for Solana’s distinct aptitude in addressing these challenges.
In contrast to a horizontal approach, Helius champions vertical integration across Solana’s entire stack, optimizing from validator plugins to developer SDKs. Liam Vovk, CTO of Helius, emphasized the platform’s steadfast commitment to Solana, ensuring unparalleled performance and reliability throughout the ecosystem.