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MetroFi raises $9 million in funding

The company plans to set up a Wi-Fi network in a Silicon Valley city by summer after a number of key investors came up with big money.

Startup MetroFi announced Monday it had received $9 million in series A funding from investors including Sevin Rosen Funds, August Capital and Western Technology. Executives from the Mountain View, Calif., company said the funding would enable the company to prove its business model. MetroFi will set up Wi-Fi networks on a citywide scale allowing consumers to wirelessly access broadband Internet service. The company plans to sell its service to Internet service providers. The first city that will have MetroFi's service will be Santa Clara, Calif. and the company expects to have its network set up by summer.