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Indian founded Bamboom labs raises $45 Million
By siliconindia
Bangalore: Bamboom Labs, a developer of infrastructure technologies for the delivery of live TV over the Internet, announced that it has raised $4.5 million in seed funding for developing technology that allows consumers watch live TV over the Internet. The company's technologies allow customers to access free over-the-air broadcast signals over the Internet and direct it to connected devices.
Bamboom Labs is a big, bold idea founded on allowing consumers to control the integration of television and web media across platforms. Bamboom is poised to become the most vibrant, open entertainment video platform for the connected age.
Bamboom Labs has invented advanced technologies to equip customers with the ability to access live free over-the-air broadcast signals securely over the Internet, and direct it to IP-enabled devices on their own terms for the first time. Bamboom provides consumers the first and only way to bring those moments to you wherever you go in your local market with the latest in web-based technologies powering the experience.
The lab's way around copyright issues at the moment is to rent a personal antenna to the customer. That way the customers are responsible for recording and retransmitting and not the company.
Bamboom Labs is headed by Chaitanya 'Chet' Kanojia who's last startup Navic Networks was acquired by Microsoft in 2008. The team includes people from Navic and Microsoft as well as RF and digital technology engineers from Andrew Corporation, Lucent and others.
Copyright laws make distributing the TV programming over the Internet quite tricky. The company cannot just redistribute the TV signal over the internet without facing the wrath of copyright holders. Bamboom would need to license content to retransmit it over the net a costly and complicated process that even Google has had trouble with.
New York-based First Mark Capital led the round, also participating were High Line Venture Partners, SV Angel, First Round Capital, and Highland Capital Partners. First Mark Capital, along with several other investors in Bamboom, had backed Navic Networks. Navic' created the first advertising platform that provided 'Internet-like' targeting and buying to the traditional television markets.