Video platform developer Carambola has announced the completion of a $1 million seed round of funding. The financing was led by Singapore venture capital fund Rutledge Vine Capital together with 2B-Angels, Plus Ventures and the Israeli incubator Explore.
The proceeds will be used to open a New York office for US marketing and expanding R&D.
Carambola was founded in 2010 by CEO Yuval Brener, Roei Bareket and Roey Yaniv. The company is headquartered in Yokne'am near Haifa.
Carambola has developed an innovative advertising technology for premium video content enabling users to explore scenes and by doing so create new ad space and significant value for product placement. The company claims this can generate more revenue per view than rival platforms.
Published by Globes [online], Israel business news - www.globes-online.com - on July 7, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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