Mobile TV Firm BlueStreak Raises $20 Million In Fourth Round


Montreal-Based BlueStreak, the maker of the MachBlue platform for delivering mobile video and digital TV, has raised a $20 million fourth round led by Iris Capital. Also participating in the round were Tomorrow Group (Korea) and return backers Solidarity Fund QFL, BDC Venture Capital and First Capital Group. This brings the company’s total investments to $37.5 million, having raised $8 million last September, $6 million in April, ’05 and a $3.5 million initial round in December, ’03. It also took $5.5 million in debt financing from Wellington Financial earlier this year. BlueStreak says it will use this investment to ramp up its pursuit of customers in China and Korea, hence the involvement of Tomorrow Group in the round. Release.

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