Xenia Venture Capital owns a third of the company.
Xenia Venture Capital Ltd. (TASE:XENA) portfolio company Playcast Media Systems Ltd. has raised $2 million, at a company value of $6 million, after money. The round began in August 2008. Xenia invested $350,000.
Playcast CEO Guy de Beer and CTO Dr. Natan Peterfreund founded the company in 2007. The company is developing video gaming streaming technology for home entertainment networks without the need for hardware.
Xenia owns 33.34% of Playcast. C. Mer Industries Ltd. (TASE: CMER) unit Rotalcom Ltd. and private investors own the rest.
Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009