Nova Labs, the parent company of Helium Mobile, announced significant layoffs, cutting 36% of its workforce at the end of August 2024. The COO, Frank Mong, described these layoffs as a necessary measure to focus on the company’s core cellular business after seeing exponential growth in the mobile network segment. The layoffs affected various departments, including engineering, and were interpreted as a strategic adjustment following a shift in business focus from building wireless networks to offering crypto-oriented cellphone plans. Helium Mobile partners with T-Mobile to provide nationwide unlimited cell plans wherein users connect to the Helium network whenever feasible and rely on T-Mobile’s data service otherwise. Helium has raised over $360 million in venture capital and remains active in the IoT space, continuing to manage the Helium IoT network under the guidance of co-founder Amir Haleem.

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