Althea Systems, a Bangalore based social video browser startup that launched its Adobe Air based application Shufflr.tv two months ago, has raised $3 million in Series A funding from an institutional venture capitalist, co-founder Rajnish R told MediaNama. Rajnish declined to disclose the company's backers, saying that the VC wants to make an announcement at their own discretion; he also declined to comment on how much stake ahs been sold. The $3 million is on the basis of what the company has planned to do over the next 18-20 months, the products they intend to roll out and the markets they want to reach. Shufflr.tv provides a clean interface for discovering new content, and has content deals inked with NDTV, Reuters, CNBC-TV18, BigFlix in India, the BBC and MSNBC in the UK, and also with Brightcove which aggregates a large…
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