Vantrix announces $12M in series B funding (3)
Vantrix, a Montreal-based startup, enables content providers and mobile operators to deliver TV, video, text and audio to subscribers without requiring the customer to install a specific an application. They manage to do so by adapting the content to each specific device and network. They already have customers in the US with ABC, a content provider, and in Europe, with Orange, a GSM carrier.
Media conversion with Vantrix’s technology
Many startups are playing in the same field, such as OZ, or Bluestreak technology, two other Montreal startups, but they require the client to install a java application. Number of compatible devices are then very limited and so is the network. Apparently, Vantrix managed to get beyond that, and that’s what convinced investors. Vantrix also solves the business model problem, as their solution can also push advertising and other content to the subscriber.
Today’s news is that Vantrix has just secured USD $12 million in Series B financing, led by Chicago-based JK&B Capital. Existing investors SummerHill Venture Partners (the venture arm of Bell Canada Enterprises), Entrepia Ventures, BDC Venture Capital, and Innovacom (the venture arm of France Telecom), have also participated in this round.
Vantrix is led by Manish Jha, former GM of ESPN Mobile.
I previously wrote a post about Canadian investor backing US companies, and I have to say this is great news.
i was just talking about local users of digg and reddit with mat balez the other day. there needs a service to alert people when someone submits a post to digg
Vantrix announces $12M in series B funding | Montreal Tech Watch…
Vantrix, a Montreal-based startup, enables content providers and mobile operators to deliver TV, video, text and audio to subscribers without requiring the customer to install a specific an application. They manage to do so by adapting the content to e…
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