US-based mobile communication device developer GoTenna secured $7.5m in series A funding yesterday from backers including subsidiaries of telecommunications company Verizon and media group Bloomberg.
Bloomberg Beta and the Verizon-owned BBG Ventures were joined by Walden Venture Capital, which led the round, MentorTech Ventures, Wareness.io and angel investors Kenneth Horowitz and Howard Finkelstein.
GoTenna has created a device that enables smartphones to communicate with each other without the use of cell towers, wifi routers or satellites, and is aiming it at the outdoor explorer market.
The device, previously only available online, is set to be sold nationwide through specialty outdoor retailer REI. The funds will go to expanding GoTenna’s team and product pipeline.
GoTenna previously raised $1.8m in 2013 from a total of 34 investors, according to a regulatory filing.
– Inage courtesy of GoTenna