HELSINKI and STOCKHOLM and SILICON VALLEY, Calif., June 11 /PRNewswire/ -- Nexit Ventures, a mobile venture capital firm focused on wireless technologies and services, announced a 4 MEUR investment in Octoshape, the leader in high-quality, large-scale, and cost-effective Internet and mobile media delivery that allows crystal-clear real-time video experience on fixed and mobile networks.
Octoshape's patented Infinite Edge(TM) technology lets users enjoy true HD-quality video regardless of their device or location. It has powered some of the largest live video events ever, including President Obama's inauguration, Michael Jackson's funeral, Eurovision Song Contest and major sporting events such as 2010 Olympics, PGA and NBA.
Based in Copenhagen, Denmark, and with offices in the U.S. and Singapore, Octoshape offers broadcasters and content delivery networks (CDNs) the most efficient and economical Internet video delivery available. Infinite Edge provides better quality, scalability, and economy than any competing offering and is being used by major players worldwide.
The CEO and co-founder of Octoshape, Stephen Alstrup, says: "Video is already a key part of the mobile experience and video traffic is expected to account for over 50 % of all mobile data in the next few years. We are happy to have Nexit onboard as their mobile expertise and transatlantic bridge will help us take a leadership role in mobile video delivery."
Octoshape's patented technology optimizes video delivery end-to-end and makes it possible to serve a global audience without deploying costly hardware all over the globe near the users.
Michael Mandahl, a General Partner of Nexit Ventures, comments: "With proven technology and world-class customers, Octoshape is poised for explosive growth. Video and other rich media are going to be key elements of the next-generation mobile experience and Octoshape will be a key player in that game. I am looking forward to working with Octoshape to make high-quality video truly mobile."
Nexit Ventures invests in mobile and wireless high-growth companies, primarily in the Nordic countries and the U.S. Nexit's other portfolio companies include Aava Mobile, Axel Technologies, Brightkite, Conformiq, Ecrio, Ekahau, Funambol, and Futuremark.
For further information, please contact:
Michael Mandahl, General Partner, Nexit Ventures
Tel. +46 708 752 296
Email: michael.mandahl (at) nexitventures.com
Michel Wendell, General Partner, Nexit Ventures
Tel. +1 408 725 8400
Email: michel.wendell (at) nexitventures.com
About Nexit Ventures
Nexit Ventures is a mobile VC firm focused on wireless technologies and services. Leveraging its extensive global network, Nexit invests primarily in Nordic and U.S. early-stage companies with global potential. For Nordic companies, Nexit provides a bridge to Silicon Valley markets and exit opportunities. For U.S. companies, Nexit brings Nordic and European market insight, customer access, and technology resources. Nexit has helped several companies in either direction of its bridge, and has realized several successful exits in the United States, the world's leading technology M&A market. Nexit has offices in Helsinki, Stockholm and Silicon Valley. For further information, please visit http://www.nexitventures.com.
SOURCE Nexit Ventures