MobiTV secures $5 million for equipment financing

Mobile entertainment services provider MobiTV announced it raised $5 million in equipment financing courtesy of investment firm Leader Ventures. "As we continue to expand our footprint and bring our services to an even larger audience, new equipment is essential to our goals of improving the performance of mobile television's content delivery infrastructure and delivering a richer, more rewarding media experience to viewers," said MobiTV CEO and chairman Charlie Nooney in a prepared statement. MobiTV previously raised $125 million from VCs Gefinor Ventures, Menlo Ventures and Redpoint Ventures as well as strategic investors Adobe Systems and Hearst Corp.  

For more on the MobiTV financing:
- read this release

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