Nokia leads new funding round for Swedish streaming video site.• Swede becomes world's first 'human jukebox'
Swedish streaming video site Voddler, that utilizes peer-to-peer delivery technology, has raised 8 million dollar in a new investment round led by Nokia Growth Partners.
The Stockholm-based firm has now raised a total of about $19 million in financing.
Last year, Voddler served some 5 million movies from a catalog of some 3,500 titles to over 850,000 Scandinavian customers. Almost 80 percent of its catalog titles is free to view, supported by advertising.
"The entire entertainment industry is moving into digital distribution. Viewing films on computers and handheld devices are becoming more and more common", said Marcus Bäcklund, Voddler’s CEO.
Voddler’s development is now focused on showing film on handheld devices, such as smart phones and tablets, as well as on Internet-connected TVs and set-top boxes.
"We are very pleased to lead this investment in Voddler and support the expansion of a very compelling video on demand service and business model. There are great opportunities ahead in innovating media delivery digitally and we believe Voddler is well positioned to do so," said Bo Ilsoe, partner at Nokia Growth Partners.
The service is currently available in Sweden, Finland, Norway and Denmark.
Last Updated (Tuesday, 15 February 2011 12:29)