Inuk Networks raises GBP9.5 M for TV over the Internet

Inuk Networks closed a GBP 9.5 million second round of funding led by Welsh public sector broadcaster S4C and the venture capital firm Wesley Clover. The money will enable the Cardiff, UK-based company to further develop its Freewire platform in the UK, and expand into Ireland and North America.

The investment by S4C was made through its commercial subsidiary S4C Digital Media Ltd, using commercial revenues. Iona Jones, S4C’s Chief Executive and David Sanders, a director of S4CDigital Media, will join the Inuk board.

“Our Freewire service is already available in over 100,000 student rooms in the UK and growing fast,” said Marcus Liassides, CEO of Inuk Networks. “[The new investment] provides the means to further enhance our technology platform and to continue to redefine the way people watch TV.”

Iona Jones, S4C’s Chief Executive said, “This investment represents a coming together of S4C’s commercial ambitions and our understanding as a broadcaster of the importance of new methods of delivering content to consumers. We believe that Freewire is a compelling proposition and has the potential to become a mainstream digital television platform.”

Inuk’s technology enables the distribution of broadcast quality TV and carrier-class telephony over closed IP-based networks. Freewire is the company’s platform for the delivery of video, voice and data services to consumers, with an initial focus on the student market.

Freewire platform can be customised allowing broadband providers and network operators to deliver TV, voice and entertainment.