SoftBank Korea Ventures (SBVK) has led a $4m of a $7.13m round of funding into TVU Networks, according to a recent filing.
SBVK is a venture capital subsidiary of Softbank Group, a Japan-based technology and telecommunications conglomerate. There was also involvement from existing backers venture capital firms Altos Ventures and New Atlantic Ventures.
Greg Moon, chief executive and president of SBVK, said: “TVU has demonstrated the ability to achieve its technology leadership position with only a minimal amount of capital due to its in-depth understanding of the broadcast industry and expertise in video compression, internet, and wireless communication technology.”