Fhenix completed a $15 million Series A financing and launched the Helium test network.

Ethereum L2 project Fhenix announced the completion of a $15 million Series A financing round, led by Hack VC, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures, and Stake Capital, bringing its total funding to $22 million. Fhenix also launched the open test network Helium, allowing developers to deploy "confidential" smart contracts on its Layer 2 network, with the mainnet expected to launch in the first quarter of next year. Previously, Fhenix completed a $7 million seed round financing in September 2023.