I am happy to announce that FON has raised another 10 million euros (or $13 million for a total of around $35 million raised since our incorporation in Feb 06). Funds were raised from a combination of current investors including myself and 4 non US new strategic investors whose identities we will disclose in the near future.
Proceeds of the round will be used for R&D and growing the number of Foneros around the world. Foneros are members of the FON Community, the largest WiFi community in the world. With FON you share a little bandwidth at home or work and you get to connect for free to all the other FONspots of Foneros around the world.
Foneros join FON by buying the La Fonera, FON’s unique WiFi routers that safely partition your WiFi signal into a private WiFi network that you access at home and where you have guaranteed bandwidth, and a roaming WiFi community called “FON” that other Foneros occasionally use when they pass near your home or workplace and log into. The La Foneras cost $/€39.95, their purchase price includes a lifetime free membership to the FON Community.
FON is now present in over 80 countries around the world. Key FON countries are USA, Japan, Korea, China, Taiwan, Germany, Spain, France, Italy, UK, Sweden, and Holland. FON distributes its WiFi routers directly through retailers or through our ISP and telco partners around the world. In key countries, FON is the first or second largest WiFi network by number of hotspots. The financing round closed yesterday.
Follow Martin Varsavsky on Twitter: twitter.com/martinvars
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