Helis Network closes $500k seed funding round
Helis Network is aiming for further expansion after closing a $500,000 seed-stage financing round, to which NGC Ventures II was a key contributor, reports Jane Connolly.
NGC Ventures II is the new multi-strategy crypto fund of blockchain investment firm NGC Ventures. Other investors include multi-asset investment company Woodstock, Obsidian Capital, SMC Capital and Black Edge Capital.
Helis Network is an enterprise solution provider for decentralised finance. The firm’s flagship product Payroll automates and streamlines processes by leveraging the Helis Payment Protocol.
The investment will be used to fund recruitment, product innovation and expansion.
“Decentralised infrastructure illustrates a trust-driven model of economic activity, gesturing to an attitudinal shift in the financial industry,” says Roger Lim, founding partner at NGC Ventures. “While security and privacy continue to lead the charge for industry expectations, by engineering excellence through product design and usage, blockchain adoption becomes easily contextualised. We’re excited to be part of this undertaking for enterprise to enter the decentralised economy.”
Kerman Kohli, founder of Helis Network, comments: “While our early traction affirms the compelling use case of a strong product-market fit, the strategic support from NGC Ventures will bring new vigour as we continue on our mission to transition enterprise into a new era of finance. Growth will focus on growing the community and existing product suite, complementing the changing demands of enterprise in a decentralised economy.”
Helis Network is also working on new products, including a loan and derivatives use case for a wider audience.