Bamboom LabsBamboom Labs announced yesterday that it has raised $4.5 million in seed financing for developing technology that allows consumers watch live TV over the Internet. New York-based FirstMark Capital led the round, also participating were High Line Venture Partners, SV Angel, First Round Capital, and Highland Capital Partners.

Bamboom Labs is headed by Chaitanya “Chet” Kanojia who’s last startup Navic Networks was acquired by Microsoft in 2008.

The company’s technologies allow customers to access free over-the-air broadcast signals over the Internet and direct it to connected devices.

The team includes people from Navic and Microsoft as well as RF and digital technology engineers from Andrew Corporation, Lucent and others.

Copyright laws make distributing the TV programming over the Internet quite tricky. There needs to be some creativity from Bamboom’s side. The company cannot just redistribute the TV signal over the internet without facing the wrath of copyright holders. That means Bamboom would need to license content to retransmit it over the net — a costly and complicated process that even Google has had trouble with.

Bamboom’s way around copyright issues at the moment is to rent a personal antenna to the customer. That way the customers, not the company, are responsible for recording and retransmitting. And that should take care of the issue, LA Times reports.