- Novator Chairman Thor Björgólfsson joins V-Nova board of directors.
- Novator’s portfolio includes several major mobile operators including Play (Poland), WOM (Chile) and Nova (Iceland).
- Investment strengthens and expands market presence for PERSEUSTM compression solutions.
London, UK – 18th October 2018 – Privately held V-Nova Limited, a leading provider of video compression solutions, today announced that it has secured a multi-million pound investment to drive further growth across the business. The innovation-lead 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.
Renowned Icelandic businessman Thor Björgólfsson, Chairman of 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).
“Video services across the globe are striving to deliver higher-quality and more robust video streaming to remain competitive in an increasingly crowded market,” commented Thor Björgólfsson. “I was hugely impressed by the potential PERSEUS has to address the real needs of operators. It’s a pleasure to now be working with Guido and his talented team.”
“This significant investment means we can accelerate and expand both our development efforts and sales efforts,” said Guido Meardi, CEO and co-founder at V-Nova. “Having Thor and the Novator team involved is also a tremendous injection of expertise and experience for V-Nova and we’re looking forward to working together in the coming months.”
V-Nova already counts among its investors, global industry leaders such as Eutelsat and Sky Group. V-Nova also acquired the full global patent portfolio of video imaging specialist Faroudja Enterprises Inc. in January 2017.
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About V-Nova
V-Nova Ltd. is a London-headquartered technology company providing next-generation compression solutions that address the ever-growing media processing and delivery challenges. V-Nova provides solutions spanning the entire media delivery chain, including content production, contribution, storage and distribution to end users. V-Nova’s award-winning PERSEUS™ is the only cross-media codec format and delivers on the promises of next-generation image and video compression, today. Using PERSEUS technology, media and entertainment companies can now monetise unmet consumer demand for higher definition video everywhere, on existing devices and infrastructure, with a simple software upgrade.
The PERSEUS technology works in 2 ways: PERSEUS Pro is an Intra codec for mathematically lossless and visually lossless professional production, contribution and imaging workflows. PERSEUS Plus is a temporal codec designed to enhance a base codec such as H.264, HEVC or AV1 adding additional layers of detail for unbeatable distribution efficiency to consumers.
For more information please visit www.v-nova.com
About Novator Partners LLP
Novator Partners is a London-based investment company led by Thor Björgólfsson. Over the last 10 years Novator has completed a significant number of investments in sectors including telecommunications, pharmaceuticals, technology, financial services, clean energy, consumer products and real estate. The Novator team is highly experienced in a wide range of situations – from traditional private equity to special situations including transforming investments for successful exits, and in private and publicly listed companies.
Press contact:
Becky Taylor
Page Melia
Tel: +44 7810 846364
becky@pagemelia.com
