Funding
Octoshape, a provider of technology for transmitting high definition video over the Internet and mobile networks, has received a €4 million investment from Nexit Ventures, a specialist venture capital investor in wireless technologies and services.
The Copenhagen-based company’s Infinite Edge technology lets users enjoy true HD quality video regardless of their device or location.
CEO and co-founder of Octoshape, Stephen Alstrup, said, “Video is already a key part of a good mobile experience and video traffic is expected to account for more than 50 per cent of all mobile data in the next few years. We are very happy to have Nexit as an investor as their mobile domain expertise and proven transatlantic bridge are great assets that will help us take a leadership role in mobile video delivery.”
Michael Mandahl, a General Partner of Nexit Ventures, believes Octoshape is poised for “explosive” growth. “Video and other rich media are going to be some of the key elements of the next generation mobile experience and Octoshape will be one of the key players in that game. I am looking forward to working with Octoshape to make high quality video truly mobile."
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