Goodyear Ventures expands portfolio with Nova Labs investment to advance connected mobility on the helium network
AKRON, Ohio, March 30, 2022 – The Goodyear Tire & Rubber Company announced today that its venture capital arm, Goodyear Ventures, has added Nova Labs, formerly Helium Inc., to its growing investment portfolio.
Nova Labs is the pioneer of decentralized wireless communications and founder of the core technologies powering the Helium Network. The Helium Network provides public, long-range wireless coverage for a wide range of Internet of Things (IoT) devices, such as smart bikes and scooters, home delivery systems and more. Available in 163 countries worldwide, Helium Hotspots enable people to own and operate their own wireless network, building “The People’s Network” that connects IoT devices.
Goodyear Ventures recently participated in Nova Lab’s series D financing round. With connected mobility playing a key role in the future of transportation, this investment allows Goodyear to collaborate on efficient and accessible connectivity solutions.
“Nova Labs is revolutionizing the way enterprises connect to the internet, unlocking new levels of efficiency through ubiquitous coverage provided by the Helium Network,” 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.”
“We are grateful to companies like Goodyear who recognize the power of a global decentralized wireless network in boosting efficiency and driving innovation,” said Frank Mong, COO of Nova Labs. “We are proud to have the support of Goodyear Ventures as we continue to pioneer decentralization across wireless protocols and are excited to explore ways to welcome them to the Helium ecosystem as an enterprise customer.”
For more information about Goodyear’s venture fund, visit www.goodyearventures.com.