Mobideos, a Sunnyvale start-up that is the latest to jump into the mobile phone TV market, has raised $500,000 from the Band of Angels and individual investors, according to VentureWire.

As we mentioned earlier (see our item on MobiTV), this area is hot. Mobideos is relying on WiFi enabled phones to deliver this service, something MobiTV is also doing.

Mobideos wants to raise $10 million more, according to VentureWire:

Mobideos, formerly called Hansa Technology, was founded in 2005 by Chief Executive Sri Palasamudram. The company’s technology is now being used by carriers including Sprint Nextel Corp. for mobile Webcam services, though Palasamudram said Mobideos is merely using proceeds from those services to refine its key upcoming product: software that can optimize the network transmission of television signals to mobile phones.