Mirics Semiconductor has secured $7m of financing from its existing investor team of Acacia Capital Partners, Intel Capital and Pond Venture Partners, for it’s Mobile TV product, FlexiTV.
From the press release:
“The commercial progress that Mirics has made since the product launch has prompted significant expansion of our commercial team in the US and Asia, to support our rapidly growing customer base,” said Mirics CEO, Simon Atkinson.
“This additional funding will enable Mirics to meet the customer demand for FlexiTV and also support product portfolio expansion to address newly identified market segments,” said Atkinsion.
What we think?
Mobile TV has been around for 5 years now, and has yet to go anywhere. So I was fairly surprised to see that investment companies were still willing to put multi-million dollar amounts towards the concept.
However – on looking at the release a bit harder, this might not be the waste of time it seems. Mirics Semiconductor seem to have developed a truly universal broadcast receiver for high-end mobile devices. That won’t help with the wildly variable data-charges that consumers encounter, but it’s a step closer to a single, reliable platform for mobile television.
