V-Nova, a UK provider of video compression solutions, has secured a multi-million-dollar investment to drive further growth across the business. The firm will expand its research and development teams to further strengthen its Perseus video codec for applicability across multiple industry sectors and expand its commercial functions internationally to further accelerate its market penetration.
Thor Björgólfsson, chairman of UK investment firm Novator, leads this funding round and will join the V-Nova board. “Björgólfsson brings a wealth of experience in relevant sectors to V-Nova including his investments and involvement in several major mobile operators including Play (Poland), WOM (Chile) and Nova (Iceland),” the company said.
V-Nova already counts firms including Eutelsat and Sky among its investors and acquired the full global patent portfolio of video imaging specialist Faroudja Enterprises in January 2017.
