The funding will enable the company to develop its main software platform, Unistream, into a ‘turnkey’ product for providers of 3G material to mobile phones.
The London Technology Fund (LTF), which invests in new technology companies in the Capital, was joined in the round by business angels.
Jani Peltonen, founder and chief technology officer of Intellistream, said: “The London Technology Fund understood the needs and potential of the business.
“I was very impressed by the way they worked with us to fill the gaps in our management team, find suitable premises and secure co-investors.
“We now have the support and resources we need to build the Unistream platform into a turnkey solution for 3G content delivery.”
David McMeekin, chairman of the LTF, said: “London is the ideal base for a technology company serving 3G content aggregators.
“We are delighted to have the opportunity to support this exciting company as it builds the Unistream platform to meet the need for a turnkey solution in this rapidly developing market.”
As a result of the deal a new chief executive officer and a finance director will join Intellistream.
© Crimson Business Ltd. 2006
