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Video Streaming Co Jigsee Gets Series-A Funding From Indian Angel Network

Update: Sequoia Capital has participated in this round of seed investment, Mohit Bhatnagar, MD at Sequoia Capital India confirmed to MediaNama. It's a small investment through the Indian Angel Network, not of a Series-A level, he added Feb 15th 2011: Canadian Wireless video streaming technology provider, Jigsee has received Series A funding from the Indian Angel Network. The details about the amount of funding have not been disclosed. Jigsee intends to use the capital to expand its India presence and to facilitate the deployment of its mobile applications in India and neighbouring countries. Jigsee focuses on deploying video on demand(VOD) solutions in low-bandwidth conditions on phones with basic features, and has tested its services in India and Bangladesh. In November 2009, Jigsee had tied up to power Bollywood Music Videos On-Demand for Hungama Digital Media. In July 2010, it had raised angel funding from a consortium of angel investors in Canada. The current edition of the company's VOD app Jigsee 1.1, which is available on Ovi and GetJar app stores, enables video on low-end J2ME devices from manufacturers like Nokia, Sony Ericsson and Micromax among others. The next version of the app, Jigsee 2.0 will extend support to Android and offer premium content from broadcasters. Jigsee was founded by Ray Newal, who was heading content and business development at Yahoo Canada and Areef Reza, who has previously worked with Nortel Networks and Research In Motion. Other ventures funded by the Indian Angel Network include online food ordering website Hungryzone (acquired recently by JustEat),…

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