MobiTV dials up additional funding

Mobile broadcaster MobiTV today announced the second close of its Series C Funding, scoring an additional $30 million investment along with two new investors, Adobe Systems Incorporated and Hearst Corporation. The total round now tallies more than $100 million. Additional Series C investors include Oak Investment Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures. According to MobiTV CEO, chairman and co-founder Dr. Phillip Alvelda, the firm will dispatch a share of the funding for R&D focusing on new network standards including WiMAX.

For more on MobiTV funding:
- check out this press release

Related article:
- MobiTV builds out MobiRadio