Karma sells a pocketable LTE-powered mobile hotspot (priced at $149) that runs on Sprint’s Nationwide 4G LTE network with fallback to 3G CDMA. The company offers a pay-as-you-go plan called Refuel and has just launched a new month-to-month “Neverstop” unlimited plan at $50/month, which allows up to three devices at capped 5 Mbps speeds. Neverstop is available without a contract and users can switch between Neverstop and Refuel at any time via the Karma iOS and Android apps. Karma retains its sharing feature (users earn data or credits when they share their connection), with Neverstop sharing yielding a $1 credit. The newer LTE hotspot began shipping earlier in the summer and the updated apps will deliver the Neverstop rollout over the next few days. Financially, the company is backed by outside funding reported at $7.66M and has recent SEC-filed financings disclosed in October. Karma sells a $69 4G mobile hotspot (service via Clearwire) with up to eight hours of battery life and a pay-per-use data model. Users who sign in with Facebook automatically receive 100MB of free data and can buy additional GBs for $14.99 each. The product’s "social bandwidth" feature grants the hotspot owner 100MB of free data for every person who signs into their open Karma network, while each guest also receives 100MB tied to their Facebook ID. Non-owners can purchase 1GB and use Karma networks without owning a device. Karma launched out of TechStars NYC Demo Day. Financially, the company has raised close to $1 million in outside funding, and it has a partnership with American Airlines to offer free Karma hotspots to frequent fliers.

Total raised

$5M

Funding rounds

3

Latest round

Equity

Latest activity

Nov 2015