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A start-up that focuses on video live streaming that operates on Ethereum has managed to raise $8 million from institutional investors through a Series A funding round.
The start-up which is called the Livepeer announced the news via Medium, which will use the funds to further various aspects of their organisation’s network, software and ecosystem in a bid to increase widespread adoption of their service.
Investors in the service include Northzone, who had previously invested in Spotify, and crypto asset investment firm, Coinfund. While elsewhere the company is seeing expansion, with the former CEO online video platform, Brightcove also getting involved in the operation as an advisor.
Livepeer has claimed to have streamed 100 live events since entering the Ethereum main net, with the focus now on bigger and better movements into the mainstream with these new investments. With a sizeable amount like that in tow, they certainly now have the resources to do so at least.