FON Raises Funding to Grow its WiFi Community Around the World

Martin Varsavsky has announced that FON has just raised another 10 million euros (or $13 million for a total of around $35 million raised since incorporation in Feb 06). Funds were raised from a combination of current investors and 4 non-US new strategic investors whose identities will be disclosed 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.

FON is now present in over 80 countries around the world including Finland where it is the largest WiFi network by number of hotspots.

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.

Comments

[Abbas Raza]

I took advantage of the free FON routers being given out in the US (thanks to your post about it a while ago) and have been using FON for the last month or so. It seems to be faster than my old router. So, thanks!