Nova Labs, developer of the Helium Network, announced on Monday the acquisition of FreedomFi, a company which builds software for crowdsourced 5G networks. The FreedomFi employees, according to the agreement, will join forces with Nova Labs in an effort to make Helium the standard for decentralized networks. As part of the acquisition, all 30 FreedomFi team members will be joining Nova Labs, with FreedomFi co-founders, Boris Renski and Joey Padden, leading Nova Labs’ future expansion into the mobile space. FreedomFi raised $9.5M from Qualcomm and Samsung in March of this year.
“The FreedomFi team has unique capabilities, a proven record of innovation, and are developers of best-in-class technology, so from a strategic standpoint this acquisition supports our mission,” said Amir Haleem, CEO and co-founder of Nova Labs. “The Helium mobile network will benefit greatly from the added expertise of FreedomFi and we look forward to working with Boris, Joey, and their team to make an even better consumer experience.”
FreedomFi claims to have launched the world’s first Helium-compatible cellular base station, allowing consumers to set up a cellular network from their home and start mining cryptocurrency rewards from its operation. The company also has a “powered by FreedomFi program” that partners with a number of hardware and small cell vendors to enable them to build similar products for the Helium ecosystem.
“We’ve been working closely with the Helium ecosystem of hardware manufacturers, enabling them to build products to power consumer-deployable 5G networks for over a year,” said Boris Renski, FreedomFi co-founder and CEO. “Joining forces with Nova Labs opens the door for innovation that will have lasting impacts on the telecom industry, while staying true to our mission to make mobile networks accessible to all.”
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