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Nexit Invests in Octoshape

Light Reading
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Light Reading
6/14/2010
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HELSINKI -- Nexit Ventures, a mobile venture capital firm focused on wireless technologies and services, announced a 4 MEUR investment in Octoshape, the leader in high-quality, large-scale, and cost-effective Internet and mobile media delivery that allows crystal-clear real-time video experience on fixed and mobile networks.

Octoshape's patented Infinite Edge(TM) technology lets users enjoy true HD-quality video regardless of their device or location. It has powered some of the largest live video events ever, including President Obama's inauguration, Michael Jackson's funeral, Eurovision Song Contest and major sporting events such as 2010 Olympics, PGA and NBA.

The CEO and co-founder of Octoshape, Stephen Alstrup, says: "Video is already a key part of the mobile experience and video traffic is expected to account for over 50 % of all mobile data in the next few years. We are happy to have Nexit onboard as their mobile expertise and transatlantic bridge will help us take a leadership role in mobile video delivery."

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