Privately held V-Nova, a provider of video compression solutions, has announced that it has secured a multi-million pound investment to drive further growth across the business.
The innovation-led firm will expand its research and development teams to further strengthen its Perseus video codec for applicability across multiple industry sectors, and expand its commercial functions internationally to further accelerate its market penetration.
Renowned Icelandic businessman Thor Björgólfsson (pictured), chairman of investment firm Novator, leads this funding round and will join the V-Nova board. Björgólfsson brings a wealth of experience in relevant sectors to V-Nova including his investments and involvement in several major mobile operators including Play (Poland), WOM (Chile) and Nova (Iceland).
“Video services across the globe are striving to deliver higher-quality and more robust video streaming to remain competitive in an increasingly crowded market,” commented Björgólfsson. “I was hugely impressed by the potential Perseus has to address the real needs of operators. It’s a pleasure to now be working with Guido and his talented team.”
“This significant investment means we can accelerate and expand both our development efforts and sales efforts,” said Guido Meardi, CEO and co-founder at V-Nova. “Having Thor and the Novator team involved is also a tremendous injection of expertise and experience for V-Nova and we’re looking forward to working together in the coming months.”
V-Nova already counts among its investors, global industry leaders such as Eutelsat and Sky Group. V-Nova also acquired the full global patent portfolio of video imaging specialist Faroudja Enterprises in January 2017.