Calgary-based MoboVivo announced last week that Alberta-based venture capital company AVAC Ltd. will invest $1 million in their multi-media distribution company. The investment falls under AVAC’s Capacity Builder Program which helps Alberta-based information and communication technology companies take their products to market and to attract commercial investment.
The $1-million investment will help MoboVivo advance its technology platform and finance the construction of the firm’s long-term strategic marketing and business plan. Future product developments will give end-users a way to upload high-quality video to mobile phones, effectively creating new social networks around premium content.
MoboVivo is a consumer-facing website that distributes television shows internationally to computers, iPods, mobile phones, game platforms, set-top boxes, web sites and social networks. MoboVivo is developing a unified entertainment platform designed to intelligently target consumers across networks, devices and borders.
To date, MoboVivo has focused on the 150 million-plus iPod/iPhone market segment, becoming the number one iPhone WebApp in April 2008. MoboVivo is currently third behind iTunes and Amazon in terms of downloads.