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| Roku funding helps raise streaming video awareness |
| Tuesday, 16 August 2011 00:00 |
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Roku has announced the completion of a recent funding round in which it has received additional investment of $8 million (£4.88 million) towards its development of new streaming video applications and devices.
The company saw investment from Globespan Capital Partners and Menlo Ventures, with the business last carrying out a funding drive in 2009, when it raised $8.4 million, bringing its total funding to £24 million. At the end of the latest round, the company's funding had been boosted to a total value of approximately $32 million, with additional investors including Robert Kyncl, vice president of TV and film entertainment at Google. Roku is the Japanese word for six and is a reference to the six companies that the firm's founder Anthony Wood has launched. It recently announced the launch of the new Roku 2 XS model and now offers users the chance to play on-demand games, including Angry Birds after Roku signed an agreement with the title's developer Rovio last month. Posted by Geoff Phillips  |