ProVision Receives $1.7 Million Investment to Send Wireless HDTV Into Mass MarketWednesday, February 10th, 2010
BRISTOL, England — The YFM Group managed South West Ventures Fund (SWVF) has confirmed a further investment in Bristol-based ProVision Communications, a developer of world leading wireless high definition television (HDTV) technology.
$1.7 million has been invested by SWVF and private investors in this latest round of funding, which will help the company to expand the sales team and accelerate product development. This includes new software for use in PC’s as well as Android and iPhone mobile handsets.
ProVision has developed a unique technology that uses the same wireless network and video encoding technologies found in PCs and mobile phones to stream multiple live high definition TV signals to any room of the home.
The company’s send and receive technology will be sold to a diverse array of manufacturers and integrated into new set top boxes and HDTVs.
Using open standards, 802.11n Wi-Fi and H.264 video encoding, minimises hardware costs and enables users to stream HD video data throughout the home between TVs, laptops and mobile phones from different manufacturers.
Julian Dennard from YFM Group said: “ProVision is perfectly placed to meet the increasing demand for wireless products and technology which can allow people at home and work to access high definition TV in different rooms over a Wi-Fi network.
“This latest round of funding will enable the new management team to build on its long term product strategy to focus on extending the technology into a wide range of other consumer electronics products including set top boxes, PC’s, mobiles, Blu-ray players and camcorders.”
Steve Cliffe, CEO at ProVision commented: “The AXAR1500 launch received a very warm reception from those within the industry. A lot of interest has been registered from several blue-chip organisations and the additional funding will help us to meet our customer’s needs.”
In January, ProVision’s AXAR1500 was selected by the UKTI to highlight British innovation at the Consumer Electronics Show (CES) in Las Vegas. One demonstration saw ProVision stream live video from the demo suit to the car park, 28 floors below – video.