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Mobile Streaming Service Gets Another $5.6 Million Funding From Telefonica

Mobile and online personal broadcasting startup has raised $5.6 million from Spanish operator Telefonica (NYSE: TEF), reports NTV. The company raised an initial venture round of $2.23 million last year and has since taken unspecified investments from Swisscom, Nokia, Holtzbrinck Ventures and individual investors. Its total haul is said to be around $10 million. In addition to its web platform, the company has put an emphasis on broadcasting mobile video, hence the backing from the operators and Nokia (NYSE: NOK). A major competitor is, perhaps the company most associated with the ‘lifecasting’ phenomenon.