Israel-based over-the-top (OTT) television platform Vidmind has raised $30m in funding from Russia-based retail group Trellas.
Vidmind’s cloud platform is now set to be the basis of TVzor, a Russian service run by a Trellas subsidiary that will allow audiences to view TV broadcasts and internet channels for a fee.
“The investment in Vidmind by Trellas is a vote of confidence in our hybrid cloud television services,” said Vidmind founder and chief executive Danny Peled.
“We are very excited about this partnership. [The launch]of our new product, TVzor, which will facilitate pay TV services, is an excellent example of how a retail chain can become a virtual TV player easily, quickly, and with a minimum of cost and risk.”