If you follow the increasingly hot Internet TV market, the latest funding round of LiveU should come as no surprise. LiveU has announced a third round of $11 million, led by Pitango and joined by existing investors, Carmel Ventures and Canaan Partners. This brings LiveU’s total investment to date to over $23 million.As a result of this round Isaac Hillel, managing partner at Pitango, will join LiveU’s board.
LiveU provides real-time video uplink solutions at broadcast quality using wireless networks such as 3G cell data, wifi and Wimax without the need for dedicated infrastructure. What this means is that TV networks, or online TV channels have the ability to broadcast live from the field using a light kit (carried in a backpack) without the need to have expensive satellite trucks. Today, LiveU’s portable technology is deployed in leading TV networks and other media companies to transmit news, live sporting events, concerts, and reality shows. Its latest product, the LiveU HD series, uses RF technology for resilient transmission even in poor cellular reception areas and easy and affordable worldwide roaming.
LiveU’s CEO, Samuel Wasserman, said:
“Finalizing this round of investment will allow the Company to expand its presence as a significant player in global markets, in parallel to completing the development of next-generation products, based on our extensive experience working with top-tier TV and news organizations. In addition to TV broadcasters, we’re seeing massive growth in demand for live video solutions from web-based content providers. I am delighted that a tier-one fund such as Pitango is joining LiveU’s prestigious list of investors. I am certain that together with the current investors, Pitango will contribute greatly to LiveU’s development and success as a global company”
Founded in 2006, LiveU’s R&D center is based in Israel, and sales, marketing and support headquarters are based in New Jersey.