ProVision Communications, a Bristol, UK-based developer of a wireless high definition television (HDTV) technology, has received a $1.7m investment.
Investors in the round include YFM Group-managed South West Ventures Fund (SWVF) and undisclosed private investors.
The new funds will help the company expand the sales team and accelerate product development. This includes new software for use in PC’s as well as Android and iPhone mobile handsets.
Commenting on the investment, Julian Dennard from YFM Group, was quoted as saying: “This latest round of funding will enable the new management team to build on its long term product strategy to focus on extending the technology into a wide range of other consumer electronics products including set top boxes, PC’s, mobiles, Blu-ray players and camcorders”.
ProVision has developed a technology that uses the same wireless network and video encoding technologies found in PCs and mobile phones to stream multiple live high definition TV signals to any room of the home. The company’s send-and-receive technology will be sold to a diverse array of manufacturers and integrated into new set top boxes and HDTVs.