Indian Angel investors back Jigsee

Indian Angel investors back Jigsee

Author | exchange4media News Service | Thursday, Feb 17,2011 7:59 AM

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Indian Angel investors back Jigsee

Jigsee, a Canadian company handling video streaming to 2.5G networks, has received an undisclosed amount of funding from the Indian Angel Network. The technology that Jigsee is working on could improve video streaming on phone networks in developing countries, where the latest technology is either not available or is not very widespread.

The Indian Angel Network is India’s largest and only national network of business angels investing in start-ups, early stage ventures and having an incubator programme with an investor base of nearly 140 angels – both individuals and institutions.

As part of this network built by entrepreneurs and for entrepreneurs, ventures can gain access to the vast business network of Indian Angel Network’s influential members.

Since inception, Indian Angel Network has invested in 23 companies, including four located overseas and made five positive exits or partial exits.

Jigsee Founder Ray Newal said, “Video as a medium has the power to entertain, inform and connect the world. Jigsee’s mission is to make video content accessible to those who have historically faced economic and technological barriers. In the Indian Angel Network we’ve found partners whose market expertise will assist our strategy and execution in fulfilling this mission.”

The company has developed and successfully tested its streaming technology in Bangladesh and India, where the data speeds are far below international standards, and the technology adapts the content format to match the bandwidth and phone that the user has.

The funding now raised will go towards deploying their application in India and in the Sub-continent, and being based on J2ME, would work on phones from Nokia, Sony Ericsson and Micromax, so as to reach as many people as possible.

Video is one of the fastest growing uses of the Internet, both on the mobile and off it, as technology makes it possible to deliver the content in a variety of ways.
Consumers are looking for the content, but the basic handsets that most users have limit the reach of this content. The mobile VAS market in India has still been restricted to ringtones and wallpapers for the most part, and so Jigsee’s technology would give content providers an entirely new audience to reach, whose numbers are far ahead of the smartphone users.

“Offering accessibility to basic devices over 2.5G networks allows us to break through the entertainment limitations and we give operators an opportunity to engage people using heavier content, delivered in a bandwidth efficient manner,” said Newal.

Indian Angel Network investor Rehan Yar Khan, who will represent the Network on Jigsee’s Board of Directors, said, “Jigsee’s proprietary technology and platform offers the widest distribution of uninterrupted mobile video streaming across 2.5G, 3G, LTE and Wi-Fi environments, enabling content providers and advertisers to reach the widest possible audience in India. This space is very exciting as we expect mobile streaming video to match the viewership of DTH in five years.”
 

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