Decentralized telecommunications network Helium has raised $200 million in a Series D funding round at a $1.2 billion valuation, Axios reported Friday.

Tiger Global and FTX Ventures are among the new investors, according to Axios. Existing investors include Khosla Ventures, GV, Multicoin Capital, Munich Re Ventures and FirstMark Capital, Axios added.In August, venture capital firm Andreessen Horowitz (a16z) led a $111 million token sale for Helium’s HNT. Owners of Helium hotspots, which connect nearby internet of things devices, are rewarded with HNT, receiving more tokens the more their hotspot is used.Helium’s HNT token is up about 1.5% over the last hour to $25.53 , according to CoinGecko.Helium declined to comment on the fundraising report.

Read more: Helium Network Passing Half-Million Hotspots Could Fire Up HNT Price