Reuters – Video Tech Company Skyfire Inks $10M

Venture capital firm Panorama Capital and others have invested $10 million in video technology company Skyfire, which plans to expand into European and Asian markets on the back of surging usage of video on wireless devices, Reuters reported. Skyfire's technology compresses video, increasing the capacity of the base stations of telecommunication networks by more than a third. Skyfire's previous investors - the venture arm of Verizon Communications Inc., Lightspeed Venture Partners, Matrix Partners and Trinity Ventures - put also additional money into the California-based Skyfire, which has now raised a total of $41 million.

North AmericaUSBriefs