Changes in the consumption of content are not just happening at newspapers and websites; it is also happening in live television broadcasts from the field. Video over cellular solutions developer LiveU Inc. has raised $27 million. Lightspeed Ventures led the round, joined by current investors Canaan Partners, Carmel Ventures, and Pitango Venture Capital.
LiveU has raised $50 million since it was founded in 2006 by CEO Samuel Wasserman and Avihai Cohen. The company's technology provides live video transmissions from any location with wireless networks, especially cellular frequencies and WiFi. The company's equipment can interface with professional filming equipment to function as television stations at events around the world, include the Oscar and Grammy award ceremonies, the Super Bowl, the Carnival in Rio de Janeiro, the 2010 World Cup in South Africa, and this year, the London Olympics, Hurricane Sandy, and the US presidential elections.
The current large financing round is part of LiveU's original needs, Wasserman told "Globes". The company's concept is to replace expensive satellite networks for real-time broadcasts with cellular networks. He says that the company plans to expand its set of solutions and geographical footprint. "The company has built a plan for the future and we were able to persuade other people to give us money," he said. "If you build a real expansion plan and believe in it, and investors also believe in it, you raise money."
Part of the reason for LightSpeed's investment in LiveU was provided by managing director David Gussarsky, who said, “We’re confident that LiveU will continue on its growth path, delivering innovative solutions that meet a real need, and we’re excited to be part of their journey."
LiveU says that more 300 of its units were deployed on election day in the US last week to transmit live coverage, and that100 units were also used to cover the devastation caused by Hurricane Sandy.
Collaboration with Panasonic
Wasserman says that LiveU focuses on the development of its platform to provide live broadcasting solutions and that it recently launched what he called a new media solution which for private users and professional photographers for private customers, such as films of wedding, sports events, shows, and ceremonies. The company is also collaborating with Panasonic Corporation (TSE: 6752; NYSE: PC) to provide an integrated live broadcasting solution for Panasonic cameras. Sources believe that LiveU will earn $10-20 million a year from this venture.
LiveU has almost 100 employees. Its solution includes several ways for transmitting live feeds. The company says that 4G networks, which support high-speed content streaming, but they also create a challenge for the company. If LTE can formally transmit at speeds of tens of megabytes per second, what use is LiveU's technology?
Wasserman says that current LTE networks in the US were only good for the company. "As networks become more advanced, demand for content by consumers rises. Today, people want high-definition broadcasts, and in a few years, they will want 3D broadcasts, which mean that they will need faster transmission speeds. Network technology development will always lag consumer demand. We can now provide HD resolution in the US."
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2012
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