Nokia Growth Partners, the $350m corporate venturing unit of Finland-based phone maker Nokia, has invested $8m in Voddler, a Sweden-based provider of video-on-demand services.
Last year, Voddler showed 5 million movies to more than 850 000 customers throughout Scandinavia from a catalogue of 3 500 titles. Over 80% of the content on Voddler is ad-funded and free to the consumer. Voddler’s developing films for handheld devices, such as smart phones and tablets, as well as on internet-connected televisions and set-top boxes.
Marcus Bäcklund, chief executive of Voddler, said: "The entire entertainment industry is moving into digital distribution. Viewing films on computers and handheld devices are becoming more and more common. I know we’ll benefit tremendously from Nokia’s vast experience in mobility."
Bo Ilsoe, partner at Nokia Growth Partners, said: "There are great opportunities ahead in innovating media delivery digitally and we believe Voddler is well positioned to do so."