Sunday, January 29, 2012

Optimization Market: Li Ka-shing and Motorola Invest in Onavo

Tzahi Hoffman reports to Globes that "Onavo Mobile, which is developing an app to compress data on mobile phones, has raised $10 million in a series B funding round .. The fundraising round was led by Horizons Ventures, the private investment arm of Li Ka-shing together with Motorola Mobility Ventures, the venture capital investment arm of Motorola Mobility Inc".

Onavo (see "Optimization Announcements: Onavo Offers "3rd Party" Compression Service" - here) offers saving in data roaming services to iOS and Android devices, with yet to be announced business model (here). 

Nevertheless, the company sees MNOs as partners, and says that (here) ".. Onavo increases operators’ revenues from data roaming services by bringing down barriers to usage and by offering more flexible data roaming plans, without changing the existing inter-operator agreements".

See "Data compressing co Onavo Mobile raises $10m" - here.

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