Jigsee Gets Series-A Funding From Indian Angel Network

To use the capital to expand its India presence and to fuel the deployment of its mobile application.

BestMediaInfo Burau | Delhi | February 15, 2011

Jigsee Inc., a leading provider of adaptive video streaming technology for wireless devices in developing countries, has announced that it has received Series A funding from the Indian Angel Network, India's largest and only national network of business angels investing in start-ups.

With its development centre situated in Ottawa, Jigsee 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 Kbps). Combined with the company's Smart Client technology – which makes video streaming possible on phones with basic features, Jigsee has overcome hurdles which have prevented the uptake of mobile TV services in most emerging markets.

Jigsee will use the capital raised from Indian Angel Network to expand its India presence and to fuel the deployment of its mobile application in India and neighbouring countries.  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, 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.

“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 Ray Newal, CEO and co-founder, Jigsee Inc.

Jigsee co-founders, Ray Newal and Areef Reza form an experienced team. Ray, an Internet industry veteran was amongst the first employees of DoubleClick which played a pivotal role in the formation of the internet advertising industry. Prior to starting Jigsee, Ray headed content and business development at Yahoo Canada.

Areef Reza, the CTO of Jigsee, leads the technology development effort. Areef gained valuable experience in this space while working with Nortel and Research in Motion.

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,” adds Rehan yar Khan.

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