Hybrid OTT cloud TV platform provider aioTV snags VC funding
Michelle Clancy ©RapidTVNews | 24-11-2011 Investments in innovative video solutions are continuing apace despite a shaky US economy, as evidenced by a $1 million infusion of venture capital investment into aioTV.
The funding is courtesy of Canadian investor Innovacorp and the developer of the cloud-based HTML5 video platform is working on a multiscreen, hybrid television proposition that aggregates long-form over-the-top (OTT) video content from the Web and licensed broadcast content together, VOD and linear channels.
That is then delivered via a unified user experience via middleware that targets a broad swath of the ecosystem, including service providers, consumer electronics manufacturers, media companies and discrete communities like colleges, corporations and metros. As a cloud-based platform, it also supports content delivery to multiple devices and screens like iPads, Android tablets, PCs and Macs, GoogleTV, iPhones, Android phones and Android set-top boxes.
The investment appears to be justified: aoiTV, whose name is short for "all in one TV", said that it has several top-tier service providers under contract in the United States who plan launch branded hybrid TV service in early 2012.
Meanwhile Mexico's Maxcom Telecomunicaciones is already using aioTV platform to combine live linear cable TV channels, video on demand and Internet content into an OTT service that it calls Yuzu, which reaches more than 350,000 subscribers south of the border.
"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 statement. "The aioTV solution allows these companies to give their viewers the choice, control, quality and access they now demand."
aioTV is not alone in pursuing the hybrid TV opportunity. Entone, EchoStar and thePlatform are just two of the companies in the market looking to attract servce providers to the integrated, multiscreen service concept with their own brandable platforms.