OTT Provider aioTV Gets $1M Investment From Up North11/23/2011 1:15 PM Eastern
aioTV Inc., developers of a cloud-based HTML5 over-the-top video platform, said it has secured $1 million in venture capital investment from a Canadian investor, Innovacorp.
aioTV (short for all-in-one TV) is an enabling platform for service providers, consumer electronics manufacturers, media companies, and discrete communities (colleges, corporations, geographic regions) looking to curate multiple sources of video content into a TV-like experience for simple discovery, viewing and enjoyment on multiple devices.
aioTV aggregates long-form OTT video content from the web and licensed content (VOD, TV Everywhere VOD, linear channels) into a unified user experience that looks like TV middleware and runs on iPads, Android tablets, PCs, MACs, GoogleTV, iPhones, Android phones and Android set-top boxes.
"This is such a hot market space to be in right now. The way we find and watch video content is evolving, and the industry must adapt in order to remain relevant and grow their subscriber base," Greg Phipps, Innovacorp's director of investment, said in a release. "The aioTV solution allows these companies to give their viewers the choice, control, quality and access they now demand."
Mexico's Maxcom Telecomunicaciones was the first to broadly market in North America using the aioTV platform to offer a next-generation multi-channel OTT video service that mixes live linear cable TV channels, video on demand, and internet content in a unified experience branded Yuzu, to more than 350,000 subscribers. In the U.S., there are numerous top tier service providers under contract and poised to launch their own branded aioTV platform in early 2012, the company said.
Innovacorp, of Halifax, Nova Scotia, is a venture capital company investing in entrepreneurs with high growth potential opportunities. Target industries include clean technology, information technology and life sciences.