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LiveU, which develops ways to transmit live video streams over wireless networks, announced today that it has raised $11 million in its third round of funding led by Pitango Venture Capital.
It’s basically a television streaming station in a backpack. LiveU uses multiple cellular networks and other wireless services to create a wireless bridge between someone recording video in the field and a broadcasting station. The video is streamed in high-definition to that broadcasting station or some other device.
The Israel-based company has raised $23 million to date. It has several large “media giants” as clients, but didn’t specify which. The company says its technology was specifically used at the World Cup in South Africa, the Grammy Awards in the US and the Beijing Olympics.
LiveU recently introduced new radio frequency technology to help buffer weak cellular and wireless signals in limited coverage areas and worldwide.
Live streaming video usage has become pretty popular, jumping 650 percent in 2010 compared to a year ago, according to data from ComScore. That’s in no small part due to major streaming sites like Justin.tv and UStream, which champion the media form’s growth. Justin.tv also recently made a significant push into mobile with its iPhone and Android apps that let users stream video directly to the website.
Existing investors Carmel Ventures and Canaan Partners also participated in the most recent round of funding. Isaac Hillel, Managing General Partner at Pitango Venture Capital, will join LiveU’s board of directors as part of the funding agreement.
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