Monday, August 3, 2009

WeFi Secures More Funding for Community Wi-Fi

WeFi Inc. announced a series B funding round to support its community-based global Wi-Fi network.

WeFi automatically connects the user to the best connection available. WeFi always seeks to connect users to Wi-Fi access points where Internet access has already been verified by other WeFi-enabled devices - dubbed "community-verified spots" - in a growing network of 30 million access points recorded. In addition, WeFi recently released its first generation of carrier-grade solutions for offloading mobile Internet traffic from congested 2G, 3G and in the future 4G networks onto Wi-Fi access points.

WeFi recently launched a version of its software for the Google Android mobile operating system, an integration with mobile VoIP provider fring, and the launch of a mobile entertainment and communications portal.

The funding round was led by venture capital firms Lightspeed Venture Partners and Pitango Venture Capital. The funding will support WeFi's business and financial needs, and is being allocated toward expanding development, marketing efforts, and strengthening strategic business partnerships. Financial terms were not disclosed.

WeFi was established in February 2006 and has R&D in Israel.