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  • Amadeus Capital Partners, Intel Capital and Oak Investment Partners lead $6 million in series B funding for Veebeam

    November 17th, 2010 No comments

    High definition video is the future; we know it and so does VeeBeam a wireless video streaming startup that just seized $6 million in series B funding. The company makes a wireless USB device that allows you to stream high definition video content from your personal PC to the TV. The product includes a set-top box that connects the TV and a wireless USB dongle. This solution is superior to what is already available on the market because is not limited by copyright issues so it allows you to connect to anything on the Internet. The content can be streamed over distances between 5 and 10 meters and the system relies on Wireless USB a standard that offers more bandwidth that WI-FI which means that 1080p movies can be a regular treat. The SD version will cost $99, the HD one will cost $139, and they support PC and Mac.

    The company was created after a merger between Staccato Communications and Artimi and has offices in Burlingame, Cambridge and Bangalore. It has a total of 40 employees. The consumer product is recently launched and it is expected to be a major success.

    This funding round was led by Amadeus Capital partners, Intel Capital and Oak Investment Partners but Bay partners, Formative Ventures, Khosla Ventures and Vision Capital also participated. The funds that were received will be used to ramp production and start shipping the product to the customers.

    There is a big benefit behind the product and a major increase in comfort. It really exceeds expectations and it seems the investors know what they are doing.

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