Online Video Distribution Company SeaWell Networks Raises $7 Million

SeaWell Networks , a fledgling Canadian provider of Internet video delivery products designed for use by content producers and their delivery partners, has secured $7 million in first-round funding led by BDC Venture Capital and joined by Northwater Intellectual Property Fund and Ontario Centres of Excellence. The round includes the conversion of prior seed funding . Founded in 2008, SeaWell says it is currently developing a solution, based on video compression standard H.264 scalable video coding (SVC), that not only enables content providers to deliver a TV-like viewing experience online but also reduces the cost of delivering that content to any screen or device in HD quality full-screen resolution or in lower resolutions for low-bandwidth mobile devices.

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Online Video Distribution Company SeaWell Networks Raises $7 Million