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Saturday, April 12, 2008

FON Raises $9.5 Million!

Great news! We've raised another $9.5 million to grow the movement! We've got lots of great plans for the money. We're going to Launch FON in Russia, launch the Fonera 2.0 (the fonera that uploads and downloads stuff to and from the internet while you are doing something else with your laptop) and develop the fonera 802.11n for an end of the year launch!

I'm really exited we were able to raise so much money, and not just because I'm expecting a gigantic raise ;)! It's a challenging economic climate and an investment this large shows support for our business model. The leading investor in the round was the US Venture Capital arm of Sistema, Russia´s leading telco. Other investors in this C round include Google, British Telecom, Digital Garage and our founder and CEO Martin Varsavsky.

Posted by Steve Ross on Business
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