The investment is said to strength V-Nova’s R&D team while expanding market presence for Perseus compression solutions
Novator Partners, an UK investment firm led by Icelandic businessman Thor Björgólfsson, has injected funds into V-Nova to drive further growth across its video compression business.
The investment will be used to expand V-Nova’s research and development teams, strengthen its Perseus video codec for applicability across multiple industry sectors, and expand its commercial functions internationally to accelerate its market penetration.
Björgólfsson, chairman of Novator, commented: “Video services across the globe are striving to deliver higher quality and more robust video streaming to remain competitive in an increasingly crowded market. I was impressed by the potential Perseus has to address the real need of operators.”
With this investment, Björgólfsson will join V-Nova’s board of directors, bringing a wealth of experience in relevant sectors to V-Nova, including his investments and involvement in several mobile operators, including Play in Poland, WOM in Chile and Nova in Iceland.
V-Nova already has Eutelsat and Sky Group among its investors. The company also acquired Faroudja Enterprises, a video imaging solutions provider, in January last year.
Guido Meardi, CEO and co-founder at V-Nova, concluded: “This significant investment means we can accelerate and expand both our development efforts and sales efforts. Having Thor and the Novator team involved is also a tremendous injection of expertise and experience for V-Nova, and we’re looking forward to working together in the coming months.”