AI Streaming Software
London-based iSize Technologies closes first seed funding round, raises £740K.
15:17 19 May 2020
Deep-tech company iSIZE Technologies has successfully raised a total of £740K from figures including Patrick Pichette, partner at Inovia Capital and ex-Google CFO. The firm said that the funding will be used to support its AI streaming optimisation software. Called BitSave, the new software reduces encoding bitrates by up to 40per cent.
Commenting on the news, Patrick said: "Video capacity needs are exploding worldwide, with no end in sight for years to come.
"Managing capacity and costs are now becoming a strategic issue for many bandwidth providers, and iSIZE addresses this problem head-on, with an innovative, amazingly elegant platform-agnostic solution. The results speak for themselves."
Sergio Grce, CEO of iSIZE Technologies, said: "We are thrilled to have graduated from the CDL-Oxford and closed this seed funding round; our thanks to all our investors who see the potential of our technology to transform the world of streaming.
"Data centres contribute more global emissions than the aviation industry, and with lockdown across the globe ever more people are turning to video content for entertainment or remote working.
"We are proud to be working with household names in the sector to reduce the strain on already overburdened networks and cut the ballooning costs of the data centre and streaming industries."