wywy Secures €2.5M
wywy GmbH, a Munich, Germany-based second-screen service provider, has secured € 2.5m in venture capital.
Backers include Cipio Partners and other investors such as Tobias Schmidt. In conjunction with the financing, wywy has acquired the majority of shares in Cipio’s portfolio company Idioma Ltd, which specializes in broadcast TV monitoring and automatic detection technologies.
The company intends to use the funding to establish itself as the market leader in social TV in Germany and other European countries, where its service is set to go live with over 30 channels this summer.
Led by Managing Director and Co-Founder Dr. Andreas Schroeter, wywy provides synchronized broadcast detection and interactivity solutions, which create new possibilities for interactive TV in the market of second-screen applications allowing viewers to obtain additional information via smartphone or tablet, share information about broadcasts and instantly purchase products seen on TV.