Monday, February 6, 2023
HomeAltcoinSolana Infrastructure Firm Helius Raises $3.1M in Funding

Solana Infrastructure Firm Helius Raises $3.1M in Funding

  • The funds will be used to create tools that would assist developers to create Web3 apps.
  • Overall Helius aims to simplify and abstract away complexity in app development.

Helius, a Solana infrastructure business, said today that it has secured $3.1 million in a seed round. It was headed by Reciprocal Ventures and Chapter One. The funds will be used to create tools that would assist developers in rapidly and affordably creating Web3 apps.

Helius, which was formed by ex-Coinbase and AWS developers. Has received funding from the likes of Solana Ventures, Alchemy Ventures, Big Brain Ventures, and Propel VC. As well as angel investors such as Zhuoxun Yin, co-founder of Magic Eden, and Stepan Simkin, co-founder of Squads.

Challenging Platform 

CEO and co-founder of Helius Mert Mumtaz told that he began developing Solana ecosystem features in the summer of 2021. Far before the platform saw its dramatic increase in popularity and worth. Moreover, the former Coinbase developer built arbitrage bots and DAO tools and assisted with the detection of fraudsters, but he noted that Solana is a challenging platform to work on.

Furthermore, to design a Solana-based app, Mumtaz said, programmers must “set up all sorts of infrastructure and scaffolding first,” and on-chain transactions are “very hard to read.” He said that sometimes developers had to do reverse engineering on Solana smart contracts (the code that drives autonomous apps) to figure out what was going on.

Helius intends to aid creators in overcoming these obstacles by supplying APIs (application programming interfaces) to comprehend on-chain data and query transactions, webhooks that allow automation and bots, and RPC nodes that let Solana programmes communicate with the blockchain. Overall, they aim to simplify and abstract away complexity in app development.

Helius has now opened its platform to the general public. Over 400 developers, including those behind the cross-platform NFT platform Crossmint and the NFT project Famous Fox Federation, have reportedly joined the firm.

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