SHERMAN OAKS, Calif.-Mobile TV provider VStar has locked up $15 million in financing in a recent round co-led by Charles River Ventures and Bessemer Venture Partners, the company said Friday.
VStar’s 1KTV network delivers news, sports updates, music and other multimedia content from ABC News, FoxSports and The Weather Channel, as well as content created exclusively for mobile phones. The company said it will use the capital to expand distribution for the service.
1KTV is available on Sprint PCS’ and Cingular Wireless L.L.C.’s networks and comes pre-loaded on Nextel Communications Inc.’s Motorola handsets.
“To have the support of two top-tier venture capital firms is a tremendous validation that there is a significant market for 1KTV’s on-demand mobile television,” said Steve Fowler, VStar’s president and chief operating officer.
