Wednesday, February 1, 2006

The Cloud Raises Funding for Wi-Fi Expansion

The Cloud, the largest hot spot operator in Europe, raised closed its third round of funding, bringing total investment in the firm to EUR 20 million. The funds will be used to expand The Cloud's UK network through initiatives such as its recently announced plan to provide wide area outdoor coverage in nine cities in the UK, and its deployments in rail stations, hotels, airports, universities and a wide variety of other public spaces. The Cloud will also use the funds to build on its existing presence in Germany and Sweden, both markets where the Cloud is the second largest WiFi operator but growing rapidly, and expand into the rest of the Nordic region.

Existing investors, 3i and Accel, contributed to the round, along with Provider Venture Partners, a leading Swedish VC.

The Cloud also announced its acquisition of NetCheckiN (NCI), a German WiFi operator.

  • Launched in mid 2003, The Cloud actively partners with O2, BT, Vodafone D2, Skype, Ericsson and Intel among others.


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