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January 24, 2012 07:57 pm GMT

Onavos Data-Compressing Mobile App Raises $10 Million Series B From Horizons, Motorola Ventures

OnavoOnavo, makers of the money-saving, data-compressing app mobile app, just raised $10 million in Series B funding. Horizons Ventures,the private investment arm of Li Ka-shing, led the investment along with Motorola Mobility Ventures, the strategic equity investment arm of Motorola Mobility, Inc.The company's previous investors, Sequoia Capital and Magma Venture Partners, also participated in the round.

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