NGCodec, a US-based video coding software developer backed by semiconductor manufacturer Xilinx, completed its $8m series A round yesterday.
The round’s participants were not named, although Xilinx was identified as an NGCodec investor alongside venture capital firm Belmore Capital and state-owned research agency National Science Foundation.
NGCodec is developing high-powered video conversion technology that will facilitate broadcast-quality streaming from cloud-based servers.
The company is also working on a virtual reality (VR) coder that could eventually allow mobile phones to stream cloud-hosted VR content to a headset once 5G internet speeds become widely available.
Pavel Novotny, chief technical officer of NGCodec, said: “NGCodec is delivering two technically challenging entertainment experiences through the cloud: real-time live broadcast and low-latency, high-resolution VR and mixed reality.
“Our VR streaming technology renders 90 frames per second and scales to meet the increasing resolution and frame rate demands of next-generation headsets”
NGCodec has now raised $15.9m in total, it said. VC and growth equity firm Belmore Capital made a multimillion-dollar investment in NGCodec in 2014 but neither company has confirmed the size of the deal.