HDTV-streaming co Zixi raises $4m

HDTV-quality streaming video start-up Zixi Media LLC has raised $4 million in a financing round led by Schooner Capital LLC. Former Scientific Atlanta chairman and CEO Sidney Topol and CNN co-founder and its first CEO Maurice "Reese" Schonfeld participating in the round.

Zixi CEO Israel Drori and CTO Uri Avni founded the company in 2006. The company enables broadcasters and video-on-demand services to deliver higher-quality video content online.

Drori said that the Internet was not designed for broadcasting video content, which was why so many video clips get stuck and the quality is far from perfect. He says that Zixi's proprietary technology can better utilize current bandwidth to reduce the loading time of video clips.

Zixi has 17 employees in Tel Aviv and in Waltham, Massachusetts. Customers include CNN, Reuters, and Israeli cable TV company HOT Telecommunication Systems Ltd. (TASE: HOT).

Published by Globes [online], Israel business news - www.globes-online.com - on April 12, 2011