Russian retailer Trellas Enterprises is investing $30 million in Israeli company Vidmind, a startup offering end-to-end service to over-the-top (OTT) Internet TV content providers.
Vidmind also announced today that its technology would be the basis for a television service in Russia, to be called TVzor, provided by a Trellas subsidiary. "Our goal is to lead the television revolution in the virtual operators market," says Trellas founder Maxim Nogotkov. "We're confident that Vidmind will prosper in the industry and enable more virtual TV operators to launch innovative TV services in competition with the existing TV services provided for payment around the world."
"The investment in Vidmind by Trellas is a vote of confidence in our hybrid cloud television services," says Vidmind founder and CEO Danny Peled. "We are very excited about this partnership. Launching of our new product, TVzor, which will facilitate pay TV services, is an excellent example of how a retail chain can become a virtual TV player easily, quickly, and with a minimum of cost and risk."
TVzor is a box that allows the user to view TV broadcasts from free channels in the style of Idan Plus, and Internet-based broadcasts for payment, including VOD and the possibility of starting a broadcast from the beginning after it has already begun. Vidmind is aiming its services mainly at companies seeking to become virtual TV providers.
Founded in 2010, Vidmind has 27 employees in its offices in Tel Aviv.
Published by Globes [online], Israel business news - www.globes-online.com - on August 6, 2014
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