Fon Raises $13.5 Million In New Round To Expand In The US

Fon has secured €10 million ($13.5 million) in a new funding round led by Atomico, the VC firm founded by Niklas Zennström, co-founder of Skype. The company markets wifi routers which turn domestic connections into a network of publicly accessible hotspots.

Coral Group and other existing Fon investors also contributed to the round which is designed to meet the surge in demand for WiFi from smartphone and tablet users, and to expand in the US and other markets. Previous rounds for the company, which was founded in 2006 by serial entrepreneur Martin Varsavsky (who also founded Jazztel and Viatel), raised over €40m.