IPTV Start-up Edgeware receives Venture Capital for Market Entry

STOCKHOLM, SWEDEN - January 26, 2006 - Edgeware, a start-up company developing uniquely scalable and cost efficient high performance servers for on-demand television services, today announced the successful conclusion of a Series A financing round with the leading Nordic early stage venture capital firm Creandum.

Edgeware is a technology leading system vendor, targeting interactive television and video on demand (VoD) applications in IPTV and cable TV networks. Based on a novel video streaming and solid-state content storage architecture, Edgeware’s revolutionizing server products significantly improve streaming capacity, functionality, service quality and profitability for service providers.
“The funding that we have received, in combination with the valuable knowledge and full backing of Creandum, enables us to complete development of our first line of products and enter the market. We will now be able to deliver on the tremendous interest in our technology that we have seen from a large number of service providers, who are hoping to extract new revenues from on-demand television services”, says Founder and CEO Joachim Roos.
Edgeware has developed a video sever technology that solves the large challenge of scaling, which is called for by the introduction of interactive and personalized streaming to any significant customer base. The unique integration level of the products result in an unprecedented low cost per viewer in CAPEX terms, and its high reliability achieves a low OPEX, regardless where in the network the servers are deployed. The products are ideally suited for any service provider installation that involves interactive streaming of television quality content, including high definition television - HDTV.
“We are very excited to work with the Edgware team to provide the missing piece of the IPTV puzzle,” says Stefan Lindeberg, partner at Creandum, “Their world class and unique combination of network and digital video expertise, have resulted in a quantum leap product, in performance, cost per stream and several other important aspects”.


About Edgeware
Based on a break-through solid state storage and hardware streaming architecture, Edgeware is a technology leader in supplying cost efficient, scalable and robust high-performance server systems for on-demand streaming video over IP networks. Edgeware was founded in 2004, by experienced professionals from the telecom, datacom, semiconductor, and broadcast video industry. Additional information can be found at www.edgeware.tv


About Creandum
Creandum is a Nordic venture fund founded in 2003, investing in companies’ earliest phases. The fund is focused on investments in innovative technologies and/or business models in high growth markets backed by outstanding entrepreneurs. More information can be found at http://www.creandum.com.

Contact Information

Joachim Roos

CEO

Edgeware

Contact via E-mail