Jigsee, a leading provider of adaptive video streaming technology for wireless devices in developing countries, today announced that it has received funding from the Indian Angel Network to expand its Indian operations.
Jigsee will use the capital raised from the Indian Angel Network, India's largest and only national network of business angels investing in start-ups, to expand its Indian presence and to align its mobile applications in India and neighbouring countries, Jigsee sources said.
Jigsee, which has a development centre in Ottawa, has developed and successfully tested its adaptive video streaming technology in Bangladesh and India.
The technology delivers continuous video streams in low-bandwidth environments with data rates as low as 50 kilobytes per second (kbps). Combined with the company's Smart Client technology -- which makes video streaming possible on phones with basic features -- Jigsee has overcome the hurdles that have prevented the uptake of mobile TV services in most emerging markets.
Jigsee version 1.1, which is currently available for download via appstores such as GetJar and OVI, makes video playlists accessible to Java 2 platform and Micro Edition (j2me) devices from manufacturers like Nokia, Sony Ericsson and Micromax, among others.
The upcoming release of version 2.0 in April, 2011, will extend support to Android devices. This version will also include premium content from top-tier broadcasters.
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"Video as a medium has the power to entertain, inform and connect the world. Jigsee's mission is to make video content accessible to those who have historically faced economic and technological barriers."
"In the Indian Angel Network, we've found partners whose market expertise will assist our strategy and execution in fulfilling this mission," said Jigsee Inc CEO and co-founder Ray Newal.
Indian Angel Network investor Rehan yar Khan, who will represent the network on Jigsee's Board of Directors said, "Jigsee's proprietary technology and platform offers the widest distribution of uninterrupted mobile video streaming across 2.5G, 3G, LTE and Wi-Fi environments enabling content providers and advertisers to reach the widest possible audience in India."
"This space is very exciting, as we expect, Mobile Streaming Video to match the viewership of DTH, in five years," he added.