What do you get when you cross blockchain, cryptocurrency, and a team of highly skilled developers? In Helium’s case, you get a $1.2 billion valuation.

Founded in 2013 by co-founders including Shawn Fanning of Napster fame, Helium began as an Internet of Things company with the aim of connecting low-powered devices without WiFi or Bluetooth.

The company successfully leveraged the growing popularity of Internet of Things devices to offer products and services of growing complexity. One of Helium’s earliest innovations was a smart sensor for refrigerators, but the company has grown in ambition since then.

Using blockchain technology, Helium launched a product called Hotspot in 2019.

Coinciding with its $15 million funding round, the launch of Hotspot was a significant moment for Helium, which still had aspirations of connecting millions of low-powered devices.