Monday, December 22, 2014

wiMAN Raises €700K in Seed Funding from TIM Ventures, P101 and Club Italia Investimenti 2.

Milan/Bologna, December 19th, 2014 - WiMAN, among the most extended social Wi-Fi networks in Italy, opens up its capital to a pool of investors led by Tim Ventures, a company of the Telecom Italia Group born to invest in the best Italian digital startups, and by P101, operator of venture capital promoted by Andrea Di Camillo. Among the new shareholders there is is also Club Italia Investimenti 2. The overall investment amounts to €700k.

Founded in 2012 by Massimo Ciuffreda (CEO and co-founder) and Michele di Mauro (CTO and co-founder) WiMAN was initially backed by Matteo Riffeser Monti as business angel and by the accelerator NanaBianca that has financially followed the capital increase. 

The company was founded in 2009 with a clear mission: to bring the wifi throughout the country and reset at once the digital divide. In 2011 the founders decided to risk everything again and invested their savings of a lifetime to start a new adventure: WiMAN officially becomes a startup! Starting from scratch was not easy; but as always passion and tenacity prevailed.

The startup has developed a technology which allows businesses to share with their customers its own Wi-Fi network, by guaranteeing a free and immediate access through the authentication with the Facebook or Google account. The routers of WiMAN are actually used by 2,000 public places in Italy and 500 abroad, which to date have generated a total of 3 million connections and registered 500 thousand unique users, of which 50% being  foreigners. 

The new resources will be partly used for the coverage of the new service to new commercial activities and not only. Among others, the company intends to consolidate its presence in Italy and reinforce the projects already launched abroad, above all in the US and Brazil.

The solution developed by WiMAN goes in the direction of low cost wireless networks which represent one of the natural evolutions for the user in mobility. The simplicity and stability of the tecnology of WiMAN  offer final users with an immediate access and allow to sellers to ensure a service now essential, but especially to have an immediate visibility of the proper user base and customers, thus creating a channel of efficient and necessary communication.

Part of the investment will be destined to the new release of the app for mobile devices, introduced last year, that allow users to connect automatically with WiMAN networks. The company wants to help people in finding open Wi-Fi networks all around the globe and connect each other in a simple way. It target to become the reference app for wireless networks.