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Tuesday, January 24, 2012

Onavo receives funding from Motorola for its free data-saving apps

Onavo, which offers free apps for monitoring mobile data usage, has arranged an additional $10 million in funding. This deal was led by Horizons Ventures, the private investment arm of Hutchison Whampoa chairman Mr Li Ka-shing, along with Motorola Mobility Ventures.

The additional funds will be used to expand Onavo’s product offering and reach.

Guy Rosen, Onavo co-founder and CEO, said “The cost of data is an issue for mobile users and carriers all over the world. As the leading service to help consumers get more out of their data plans, we are thrilled to bring on board leading partners from both Asia and the US, and to have the ongoing support of our existing investors.”

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Author: The Fonecast
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