GOODYEAR VENTURES EXPANDS PORTFOLIO WITH NOVA LABS INVESTMENT TO ADVANCE CONNECTED MOBILITY ON THE HELIUM NETWORK

Rhea-AI Summary

Goodyear Tire & Rubber Company (NASDAQ: GT) announced its investment in Nova Labs, formerly Helium Inc., through its venture arm, Goodyear Ventures. This investment was part of Nova Labs' Series D financing round. Nova Labs is known for its decentralized wireless communications technology, powering the Helium Network, which connects IoT devices globally. Goodyear aims to leverage this partnership to enhance connectivity solutions crucial for the future of transportation, emphasizing its commitment to mobility innovation.

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• Investment in Nova Labs enhances Goodyear's position in connected mobility.
• Collaboration aims to advance efficient connectivity solutions.

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• None.

AKRON, Ohio, March 30, 2022 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) announced today that its venture capital arm, Goodyear Ventures, has added Nova Labs, formerly Helium Inc., to its growing investment portfolio.

Nova Labs is the pioneer of decentralized wireless communications and founder of the core technologies powering the Helium Network. The Helium Network provides public, long-range wireless coverage for a wide range of Internet of Things (IoT) devices, such as smart bikes and scooters, home delivery systems and more. Available in 163 countries worldwide, Helium Hotspots enable people to own and operate their own wireless network, building "The People's Network" that connects IoT devices.

Goodyear Ventures recently participated in Nova Lab's series D financing round. With connected mobility playing a key role in the future of transportation, this investment allows Goodyear to collaborate on efficient and accessible connectivity solutions.

"Nova Labs is revolutionizing the way enterprises connect to the internet, unlocking new levels of efficiency through ubiquitous coverage provided by the Helium Network," said Abhijit Ganguly, managing director, Goodyear Ventures. "At Goodyear we are committed to enabling mobility, and we can't wait to see what we can accomplish with Nova Labs and the Helium Network."

"We are grateful to companies like Goodyear who recognize the power of a global decentralized wireless network in boosting efficiency and driving innovation," said Frank Mong, COO of Nova Labs. "We are proud to have the support of Goodyear Ventures as we continue to pioneer decentralization across wireless protocols and are excited to explore ways to welcome them to the Helium ecosystem as an enterprise customer."

For more information about Goodyear's venture fund, visit www.goodyearventures.com.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

About Nova Labs

Co-founded by Shawn Fanning and Amir Haleem in 2013, Nova Labs (formerly Helium Inc.) is the pioneer of decentralized wireless communications and the founding team that launched the core technologies powering the Helium Network. Nova Labs is backed by Andreessen Horowitz, FirstMark, Goodyear Ventures, GV (formerly Google Ventures), Khosla Ventures, Liberty Global, Multicoin Capital, NGP Capital (backed by Nokia), Pantera Capital, Ribbit Capital, Seven Seven Six, Tiger Global, Union Square Ventures, Marc Benioff, Shawn Fanning and other top VCs. Nova Labs remains dedicated to building critical network infrastructure and technologies to support the decentralization of wireless on a global scale. More information can be found at nova.xyz.

  

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SOURCE The Goodyear Tire & Rubber Company

FAQ

What is the recent investment by Goodyear Ventures in Nova Labs?

Goodyear Ventures has invested in Nova Labs as part of their Series D financing round, focusing on decentralized wireless communications.

How does the investment in Nova Labs impact Goodyear's future?

The investment allows Goodyear to collaborate on innovative connectivity solutions essential for the future of transportation.

When was the investment in Nova Labs announced?

The investment was announced on March 30, 2022.

What technology does Nova Labs provide?

Nova Labs is known for its Helium Network, which provides decentralized wireless coverage for IoT devices globally.

What is the stock symbol for Goodyear Tire & Rubber Company?

The stock symbol for Goodyear Tire & Rubber Company is GT.