Videonline Communications, a Redwood City, Calif. digital media networking company focused on Asia, has raised $12 million in a round of venture funding led by Intel Capital, the venture investment arm of Intel Corporation.

See announcement here.

The company’s web site is down, as of this writing.

From the statement:

“ViDeOnline sees a huge opportunity to become the industry leader in digital media distribution in Asia by offering to carriers, licensed premium quality content from leading Hollywood and Asia studios as well as music from major record labels to local carriers, Internet service providers and IPTV companies,” asserts [chief executive, Dr. Priscilla M. Lu]. As one of the providers of licensed Hollywood content for Digital Media Distribution in China, ViDeOnline sees tremendous potential in offering compelling licensed content at competitive prices in a market plagued with piracy.

Over the past two years, ViDeOnline has been working with local authorities in China to address how international quality content, compliant with China’s regulations for censorship and media licenses can be offered legally over an IP digital network. Through joint partnerships with government entities, ViDeOnline will enter the China market with licensed, censor approved content for delivery to consumers through carriers and local IPTV or Digital TV and Internet service providers.