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September 04, 2006
FON Clone Tomizone Launches With Kiwi Investors
Tomizone has just launched a FON-like service in New Zealand with plans to launch in other countries. Like FON, which is based in Spain and backed by Sequoia, Google, and Index Ventures, Tomizone developed software that is copied onto a personal WiFi router, which in turn enables users to share their broadband internet connection with Tomizone subscribers.
Its billing technology enables sharing of revenues betwen the company and the people who create the network.
According to press reports, it has raised some venture financing from a fund called K One W One, headed up by a local entrepreneur-turned-VC, Stephen Tindall who founded The Warehouse Group, a retailing chain that is publicly traded in New Zealand.
His fund is apparently acquiring about 25 perceont of the alternative WiFi network operator for an undisclosed amount.
K One W One (K1W1) has stakes in several emerging companies, including Phitek, Neuren Pharmaceuticals, Deep Video Imaging and Esphion.
Tomizone was founded by Steve Simms, former general manager of Reach Wireless, software expert Max Lock and former Cadmus Technology director Phillip Joe, according to Stuff.
Read -Tindall's high-tech hot tip (stuff)
Read Tomizone (Wikipedia)
Posted on September 4, 2006 10:37 AM | Posted to News And Updates | Wireless | Permalink
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