Tata Comm Invests $11.5 Million In Content Delivery Network BitGravity
Tata Communications, the telecom arm of the Tata Group, has invested $11.5 million in Burlingame, CA-based content delivery network BitGravity. Also Tata has announced the launch of its global CDN service using BitGravity’s technology. Just earlier last month, BitGravity announced it closed a $2.5 million “seed” round, from Allen & Co. and Sling founder and CEO Blake Krikorian. The company launched its service last year, and focuses on high resolution and live video delivery, and says it is at a lower cost than others. It powers video for Revision3 and Pump Audio, among others. The investment from Tata would bring the total amount raised by BitGravity to $14 million.
BitGravity will provide technology and manage the content delivery operation and the service will be branded as Tata Communications’ CDN Powered by BitGravity. Initially the CDN network would be available on 20 locations in the US, Asia and Europe. It is in a heavily competitive space, from the likes of public companies like Akamai (NSDQ: AKAM) and Limelight (NSDQ: LLNW), and startups like Panther Express, and others.
Posted In: Money, M&A & Venture Capital, Venture Capital, Technologies / Formats, Broadband, bitgravity, tata communications
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