WeFi locates funding from Time Warner

WeFi, an Israeli company whose Wi-Fi locator application and database has garnered some attention for Wi-Fi off-load applications, has landed a $10 million investment in a financing round led by content giant Time Warner, according to a report from Israeli financial newspaper Globes.

The investment could point toward future use of WeFi's solution in content streaming applications--either that or Time Warner just wants to have a piece of a company at the center of some interesting trends in wireless broadband. Time Warner joins current investors Lightspeed Ventures and Pitango Venture Capital.

WeFi has mapped well over 100 million Wi-Fi hotspots so far in what has been referred to as a crowdsourcing approach to locating Wi-Fi coverage for users who may want to move off mobile networks to minimize their mobile usage. The company, like Devicescape, advocates the idea that mobile carriers don't need to build their own Wi-Fi networks in order to take advantage of Wi-Fi off-load. WeFi and Devicescape help them to instead leverage Wi-Fi hotspots that already exist.

For more:
- see this Globes item

Related articles:
WeFi announced its carrier-grade off-load solution in early 2011
WeFi analyzed Wi-Fi usage trends among Android phone users

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