Kyte.tv, the online TV widget company, receives investment from Nokia Growth Partners
June 11, 2007 | Michael Foroobar
Kyte.tv, the San Francisco company allowing users to create their own TV channels online or on a mobile phone, today announced an investment in the “single digit millions” from Nokia Growth Partners, the venture capital arm of Nokia. This is Kyte.tv’s third round of financing (See previous VentureBeat coverage of Kyte.tv).
The investment by Nokia, a leading mobile company, is notable. VentureBeat has covered numerous video players and competitors including SplashCast, Joost and Radar—all of which share features with Kyte.tv. In an increasingly crowded space dominated by well-financed companies (such as Google’s YouTube, MySpace Video and Facebook Video), Kyte.tv’s tie with a strategic investor such as Nokia may lead to more — such as a more integrated mobile offering of its service through Nokia down the line.
This is Nokia Growth Partner’s first publicly announced investment in a consumer-facing company. With $200M USD under management, their website discloses plans to invest in “digital media & content” companies in 2007.
Tags: co:Kyte, deal, inv:Nokia-Growth-Partners
