Internet TV Startup Vidmind Raises $30 Million in Funding

Israeli startup Vidmind recently raised $30 million in funding from Russian retail giant Trellas. Vidmind’s on-demand video streaming services will help bolster Trellas’s pay TV service TVzor. Unlike other streaming services, Vidmind sells a traditional set top box in addition to its video streaming capabilities. With both hardware and software capabilities, Vidmind enables companies to become a virtual cable operator. While Trellas’s Tvzor service will allow Vidmind to break into the Russian market, the startup does not seek to stop there. Rather, Vidmind’s Chief Executive Danny Peled sees the partnership with Trellas as the first step in entering evolving markets in Europe, Asia, and South America. Trellas’s investment in Vidmind continues a broader trend of successful Israeli video streaming services: RayV was acquired by Yahoo last month, and Boxee was acquired by Samsung in 2013.

For more information please click here.

Author: abby

Comments are disabled.