Re: [decentralization] Swarmcast Receives More Than $5 Million in Funding
As they say, every dog has its day!!
Finally, the wait has proven to be worth!
Congratulations and keep us posted of new developments post funding.
All the best to Swarmcast.
Quoting Justin Chapweske <justin@...>:
> To all those that remember Swarmcast from the OpenCola days, we're back!
> Swarmcast Receives More Than $5 Million in Funding
> Minneapolis, MN 55414
> November 30 2006
> Swarmcast Receives More Than $5 Million in Funding from Strategic
> Japanese Investors
> Swarmcast Technology to Enable High-Definition Broadband TV Channels
> in Japan and the U.S.
> MINNEAPOLIS (November 30, 2006) - Swarmcast, the Minneapolis- and
> Tokyo-based inventor of grid network content distribution via the
> Internet, today announced that its parent company, Onion Networks
> Japan, has recently completed a venture round, raising more than US
> $5 million capital. The funding round was led by two prestigious
> Japanese investment firms: Bridge Capital Fund (BCF), a Nikko
> antfactory- and Nikko Cordial-sponsored venture fund, and Nippon
> Venture Capital (NVCC). The additional capital will be used to
> advance the company's growth and to launch new services for
> delivering commercial High Definition-quality video over the Internet
> in the US and Japan.
> "We are pleased to have completed this venture financing round with
> these highly regarded Japanese venture capital firms," said Justin
> Chapweske, president and CEO of Swarmcast. "We are now extremely well-
> positioned to capitalize on our mature products as demand for HD over
> broadband becomes ubiquitous."
> Swarmcast currently licenses its technology for distribution of 250GB
> Hollywood movies to North America's largest network of digital
> cinemas. Swarmcast is now offering its services for the delivery of
> large HD media files to consumers over standard broadband.
> For the rapidly growing broadband video industry, the company's
> Swarmcast technology enables video delivery sites and content owners
> to offer HD-quality video over the existing internet infrastructure
> at dramatically reduced bandwidth costs without the need for
> additional integration or infrastructure.
> "Swarmcast holds the last piece of the puzzle to commercialize
> entertainment over the Internet for the masses," said BCF Managing
> Partner Yoav Keidar. “Their innovative software platform will enable
> extreme differentiation for content providers by way of providing
> full-screen HDTV over the Internet and we are excited to invest and
> advance this ground-breaking technology.”
> About Swarmcast
> Swarmcast, previously known as Onion Networks, powers the reliable
> distribution of on-demand video at High Definition-quality levels
> over the existing internet infrastructure. The software is globally
> used in digital cinema, data outsourcing, consumer electronics
> devices and professional sports. The company founder, Justin
> Chapweske, invented the basic grid-based delivery technology in 1999
> and formed Onion Networks in 2001.
> Media Contact:
> Paula Gottlob/PGPR; 206-281-5389; PGPR@...
> Paula Gottlob (PGPR@...)
> 212 2nd Streert Suite 128
> Minneapolis, MN 55414
> Phone : 206-281-5389
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