Mobile Video Transmitting Pioneer Receives $33 Million

The designer of technologies transmitting video to/from mobile devices, Dilithium Networks, has received $33 million investment.

This fund round is expected to be the last one. The summed funds figure has now reached $65 million.

Mr. Zuber said:

“We decided to go for hedge funds and public private funds because we see this as our prepublic round. Large funds such as the ones in the current round, are more knowledgeable about public companies and have investments in a lot of our customers. They also have a more global outlook.”

About Dilithium

The company was founded by Dr. Marwan Jabri, a professor at the University of Sydney, Australia. It is recognized as one of the pioneers of transmitting video to and from phones is such applications as videoconferencing or video calling. Thus the company was one of the first to develop 3G videotelephony, and owns a number of patents used in the ITU standards.

It goes without saying that video-enabled mobile devices are winning the mobile market. In 2007 the majority of 1 billion devices expected to be sold worldwide will be capable to deal with video (such apps and services as mobile TV, downloading videos from YouTube e.t.c.).

Mr. Zuber added:

“Having less money forces you to be a lot more focused and more innovative in how you go about getting things done. We bought all our initial facilities at 10 cents on the dollar.”

Mr. Zuber didn’t comment on his preferred exit: public or a trade sale, still he mentioned: “In my experience, that kind of thing gets determined for you.”

[via]

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Technorati Tags: mobile web, mobile Internet, mobile adds, mobile advertisement, mobile software, mobile web site, mobile web 2.0, mobile web page, mobile internet service, mobile internet access, mobile wireless internet, advertising mobile, Dilithium Networks

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