Goodyear invests in blockchain wireless networks specialist Nova Labs

Akron, Ohio – The Goodyear Tire & Rubber Co.’s venture capital arm, Goodyear Ventures, has invested in Nova Labs, a specialist in decentralised wireless communications.

Formerly Helium Inc., Nova Labs is the founder of the core technologies powering the Helium Network, which provides public, long-range wireless coverage for a wide range of Internet of Things (IoT) devices, such as smart bikes and scooters and home delivery systems.

Available in 163 countries worldwide, Helium Hotspots enable people to own and operate their own wireless network, Goodyear announced 30 March.

With connected mobility playing a key role in the future of transportation, Goodyear said it expected the investment to allow it to develop “efficient and accessible connectivity solutions.”

“Nova Labs is revolutionising the way enterprises connect to the internet, unlocking new levels of efficiency,” said Abhijit Ganguly, managing director, Goodyear Ventures.

“At Goodyear we are committed to enabling mobility, and we can’t wait to see what we can accomplish with Nova Labs and the Helium Network.”

Helium raised $200 million (€179 million) in its recent series D financing round and changed its name to Nova Labs Inc to separate the company and the Helium blockhain technology, which is to be 'designed and managed by its users.'