Sidley represented Helium, a blockchain technology company, in its completion of a $15M Series C financing which was co-led by Union Square Ventures and Multicoin Capital with already-existing backing from Khosla Ventures LLC, formerly Google Ventures, FirstMark Services LLC and Munich Re/HSB Ventures. Along with the Series C Financing, the Sidley team advised on legal and regulatory considerations related to the Helium blockchain network. Low-bandwidth Internet of Things (IoT) devices often need network connectivity but can’t access Wi-Fi or afford expensive data plans designed for other high-bandwidth devices, such as iPhones. Helium solves this with the Helium Hotspot, an affordable wireless networking device that reaches 200 times farther than Wi-Fi thanks to open-source “LongFi” protocol and transmits data at a fraction of the cost than standard cellular plans.
The Sidley team consisted of partners, Hank Barry (Palo Alto), Lilya Tessler and Monique Gallego (both New York), and associates Daniel Engoren (New York) and Courtney Sladic (Palo Alto).
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