TVU Networks, an IP-based live broadcast solutions specialist, has completed a new funding round. The financing was led by new investor SoftBank Ventures Korea, while seed investors Altos Ventures and New Atlantic Ventures also participated. Financial…
TVU Networks, an IP-based live broadcast solutions specialist, has completed a new funding round. The financing was led by new investor SoftBank Ventures Korea, while seed investors Altos Ventures and New Atlantic Ventures also participated.
Financial details were not disclosed but, according to an SEC filing, TVU raised just over US$4m from a planned US$7.13m offering.
TVU plans to used proceeds from the funding round to increase its global market presence, particularly in Europe and Latin America.
Commenting on the transaction, Paul Shen, CEO of TVU Networks, said: “SoftBank is a recognized technology leader in global telecommunications infrastructure, which is a key element in our solutions. Our partnership with SBVK will not only provide financial assets, but will also include access to a deep network of global telecommunications expertise and partnerships.
Founded in 2005, the company’s flagship product, TVUPack, gives broadcasters satellite and microwave TV truck functionality in a lightweight, portable backpack.
