TEL AVIV, Israel--(BUSINESS WIRE)--Vidmind (www.vidmind.com), which enables new virtual TV operators to launch a full blown OTT Pay TV service, announced today that it has capitalized on the investment of US $30 million from Trellas, by going live thru TVzor. TVzor uses the Vidmind cloud-based, hybrid OTT/DTT platform as the foundation for a new primary TV service in Russia.
Trellas, one of Russia's largest independent retail groups (Svyaznoy, Svyaznoy Bank, Enter, Pandora, Tvzor, etc.) is also committed to a follow-on investment to bring Vidmind's OTT cloud platform to the global market.
Trellas targets the huge gap between the extensive broadband infrastructure and the relatively small amount of primary TV services (Live TV & VOD) based on OTT in Russia and globally.
Vidmind's technology allows a new breed of virtual TV operators to leverage existing broadband infrastructure and free-to air channels to provide a primary TV service with features and capabilities far exceeding those of existing Pay-TV services.
“Our goal is to lead the TV revolution by ‘going virtual’ – that is to say, leveraging the open Internet and free-to-air TV to provide a primary TV service,” said Maxim Nogotkov, founder and majority shareholder of Trellas. “We are confident that Vidmind will become a driving force in the industry – empowering more virtual operators to launch new innovative TV services and challenge existing Pay TV providers – in Russia and the rest of the world.”
“We see this strategic investment from Trellas as a great vote of confidence in our cloud-based, hybrid OTT/DTT approach,” said Danny Peled, CEO of Vidmind. “Trellas is undoubtedly a great partner for us, with their huge presence and experience in addressing dynamic market challenges with innovative ideas.”
Trellas is one of Russia's biggest independent retail groups, with close to 30,000 employees and 3200 stores in 1,000 cities.
Vidmind’s platform lets service providers, from Telcos through broadcasters and retailers, launch a fully featured next generation TV service, available on TVs, tablets, smartphones and more. The company was founded by video streaming and TV app veterans and is privately held.