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Provider of web video contents on mobile phones raises $7.8 million from NVP

Veveo, a provider of web video contents through mobile phones, has secured $7.8 million in series – B funding from Norwest Venture Partners. Including the current round, the company has so far raised $28 million in venture funding from Matrix Partners, North Bridge Venture Partners, NVP and OmniCapital.

Veveo, a provider of web video contents through mobile phones, has secured $7.8 million in series – B funding from Norwest Venture Partners. Including the current round, the company has so far raised $28 million in venture funding from Matrix Partners, North Bridge Venture Partners, NVP and OmniCapital.

The company aims to utilise the new fund to offer its mobile video content services in the Indian market with the launch of its flagship product vTap. vTap is an advanced web video service that allows mobile users to browse, discover, keep and share web videos from any source on the internet, reports Business Standard.

According to Veveo, video is soon going to be the future of mobile internet. “Just as mobile email usage has become a habit, and encouraged the development of handsets like Blackberry and SmartPhones, we believe that we will soon see the proliferation of a mobile video habit amongst consumers all over the world,” Murali Aravamudan, founder and CEO, Veveo, has said.

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