It's very nice to see funding for this LibreOffice initiative. From personal experience, developing WebODF (http://webodf.org/), a 100% JavaScript client-side office, I know that finding investors for applications that compete in a market that is dominated by big entrenched players, is a special skill. Competing with a potentially very disruptive (for the competitors, not the customers) product in this arena is an amazing challenge.
LibreOffice is a very important code base and taking it to mobile devices or making it available in a business setting via web sockets as is being done here, can provide some real value and makes it easy to deploy office software.