Tech and Web NEWS

Swedish streaming video startup Voddler gets $3.5m in funding by Eqvitec Partners

By Thomas Frommherz for CEOWORLD Magazine Updated:February 8, 2010

Swedish streaming video startup, Voddler, still in beta, has picked up a further $3.5 million in funding by Eqvitec Partners. Eqvitec Partners is one of the largest technology oriented private equity firms in Northern Europe. The company was founded in 1997 and employs 10 investment professionals in Helsinki and Stockholm. Eqvitec Partners currently advises three funds with a total capital base of over 300 million euros. The funds invest in technology companies in the expansion stage.

Voddler provides unlimited video content distributed to any number of users by streaming. No limitation of content will enable you to have instant access to your old favorite movies as well as the newest blockbusters. Instant access, a user friendly video application and a complete network focused on film makes Voddler the obvious choice for a movie night.

Voddler currently distributes films from 15 studios, including Disney (NYSE: DIS), Paramount, Miramax, Columbia, Dreamworks, Touchstone, MGM and Sony…

Press release

Voddler, the unique Swedish home entertainment service via the Internet, announced today the completion of private placement by Eqvitec Technology Fund III regarding SEK 26 million. A new Voddler board member is also introduced, Hadar Cars, partner of Eqvitec.

Voddler has completed a new share issue providing the company with SEK 26 million in new capital.

- We are pleased with the investment of Eqvitec Fund in Voddler. Eqvitec has well known skills in tech ventures such as Voddler and has a good track record as a leading Scandinavian VC firm. We are well prepared for the company’s continued development and expansion, “says Marcus Bäcklund, CEO and director of Voddler.

Hadar Cars, partner of Eqvitec Partners enters the board of Voddler:

- We are happy to have the opportunity to invest in Voddler, one of Scandinavia’s most interesting and popular ventures right now. We are looking forward to assist Marcus and the directors of Voddler in the continuing development.

With more than 400 000 Swedish members Voddler showed more than 1 million movies in January alone. International expansion has begun, in which Voddler will launch in Norway, Denmark and Finland during Q1 of 2010.

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