CDN funding is incredibly important for content delivery network providers looking to expand or new players in the CDN market looking to make inroads into the highly competitive sector. As such, CDN providers go to great efforts to attract capital from influential partners in the technology industry.
Now, the latest content delivery network provider to receive CDN funding is Theta Labs. They are developing a decentralised, blockchain-powered video streaming network and have announced that they have received US$12 million to developed their network and get it off the ground and to market. This funding will help them develop the network and expand their points of presence.
CDN Funding Benefits
The round of CDN funding has been led by Danhua Capital, with additional partners including Silicon Valley venture capital funds DCM, Sierra Ventures, and VR Fund, Chinese institutional funds Heuristic Capital, ZP Capital, and Sparkland, Japanese corporate partner Gumi, and private purchasers including the former group managing director of Time Warner Investments.
“We’ve been very impressed working with Mitch [Liu, the co-founder and CEO of Theta Labs, Inc.] and the entire SLIVER.tv team since we led the company’s Series A round. It’s clear they are on an exponential growth trajectory and getting huge traction in the esports streaming community, their underlying video delivery technology they’re developing makes all this possible,” said Dovey Wan, managing director of Danhua Capital.
Dovey Wan continued, “content delivery networks by nature can leverage decentralization and blockchain technology very well. We are excited to be part of Theta, and its vision to disrupt and redefine the entire global video industry as we know it today.”
“Theta is the only end-to-end infrastructure and protocol for decentralized video streaming that provides technical benefits and incentives to all stakeholders in the ecosystem,“ said Liu. “We are committed to powering the future of video streaming by creating the first video mesh network built on blockchain.”