Digital TV start-up Imagine Communications Inc. has raised $10 million in an internal round. The company has raised $34 million to date, including the present round. All of the company's investors participated in the round: Founded in 2005, Imagine Communications is privately held and funded by Carmel Ventures, Columbia Capital, and Court Square Ventures.
Imagine's platform enables video and TV operators to increase content transmitted over their current infrastructures, without affecting broadcast quality, and sometimes even improving it. The company will use proceeds from the current round to expand installation of its solutions and products in target markets.
Imagine president and CEO Jamie Howard said, “Imagine’s vision for PersonalizedTV on every screen is now becoming a reality." He added that Imagine would use the money to develop "solutions to support the growing demand for Internet and mobile video content delivered in multiple formats, including 3D."
Imagine, formerly known as QOD, was founded by former executives of BigBand Networks Inc. (Nasdaq:BBND): CTO Ron Gutman and SVP product technology and architecture Doron Segev. Carmel Ventures was the first investor in the company, and is its largest shareholder.
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010