Technology fund finds monies for development

Edited by the Manufacturingtalk editorial team Dec 4, 2006

Intellistream, the developer of a new turnkey solution for 3G video content delivery, has attracted funding of GBP 355,000 through the London Technology Fund.

Intellistream, the developer of a new turnkey solution for 3G video content delivery, has attracted funding of GBP 355,000.

London Technology Fund (LTF), London's specialist investor in new technology companies, led the round, which also included investment from 'business angels'.

Following the investment an experienced software executive will join the company as CEO and a finance director will be appointed.

3G telephony offers better speech quality, higher data rates and video calling to mobile phones.

Intellistream's product, Unistream, is an advanced, easy-to-use interactive 3G video platform that can be managed on a per-channel basis.

It is designed to meet the demand from content aggregators for a turnkey solution for 3G video content delivery.

The funding round will enable the company to build the new Unistream platform for this rapidly developing market.

Commenting on the fundraising, Jani Peltonen, founder and chief technology officer of Intellistream, said: "The London Technology Fund understood the needs and potential of the business.

I was very impressed by the way they worked with us to fill the gaps in our management team, find suitable premises and secure co-investors.

We now have the support and resources we need to build the Unistream platform into a turnkey solution for 3G content delivery." David McMeekin, chairman of the London Technology Fund, said: "London is the ideal base for a technology company serving 3G content aggregators.

We are delighted to have the opportunity to support this exciting company as it builds the Unistream platform to meet the need for a turnkey solution in this rapidly developing market.".