Decentral.tv, operator of social communications developer Kyte, has added $6.1 million to bring its Series B investment round
to $21.1 million and added a couple of strategically-tied venture
capital firms to build additional media cachet to its roster of
investors and partners.
Three-year-old Kyte, which raised $15 million in a first close
of the round from Spain's Telefónica SA,Switzerland's Swisscom AG,
Nokia Growth Partners, DoCoMo Capital Inc. Holtzbrinck Ventures of
Germany and Draper Fisher Jurvetson of Menlo Park, added Walt Disney
Co.'s Steamboat Ventures venture affiliate and Intellect Capital
Ventures, an affiliate of Swedish telecom giant TeliaSonera in the new
close, which will allow the company to expand its cellphone-based video
distribution platform.
The company expects to leverage its roster of media partners to
expand its viral distribution strength from roots in user-created video
to more traditional media and entertainment content. In the funding
announcement Kyte touts musicians including 50 Cent and Raheem DeVaughn
as using its platform to broadcast mobile video in real-time to online
and mobile destinations.
The company was founded in July 2006 in Europe but is now headquartered in San Francisco. - Clifford Carlsen
See March 10 press release from Kyte
See December 2007 story from Tech Confidential
For more see Silicon Alley Insider, paidContent and Crazynetechstuff
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Hi Clifford - Thanks for the coverage. Just a quick point of clarification: The Intellect and Steamboat investment is actually the 2nd closing of our B round bringing the total of our B round to $21.1M. Thanks again for the write-up.
Best,
Gannon