Video over WiMAX start-up LiveU Ltd. has raised $9 million from Carmel Ventures and Canaan Partners. LiveU promises live content to be broadcast anywhere and at anytime. In the same way that cellular technology made phone communications really mobile, LiveU will make live video really mobile.
LiveU CEO Shmuel Wasserman said that the financing would enable the company to speed up the establishment of its service, sales, and marketing network in the US and other countries and to develop a more advanced version of its technology.
LiveU was founded 18 months ago. The company has developed technology that uses wireless technologies - WiMAX, Wi-Fi, and cellular - for live video broadcasting without the need for infrastructures. The high-quality broadcasts give websites and content provides the opportunity to provide live broadcasts.
A number of websites, including Sport One and community sites in the US, offer live broadcasts using LiveU's product. Several commercial television stations in Israel and other countries are also conducting pilots based on the company's technology.
Canaan Partners and private investors, including Yigal Yaakobi (founder of Armon Technologies Ltd., Allot Communications Ltd. and Globaloop Ltd.) were previous investors in LiveU. The company has raised $12 million to date, including the current round.
