Amadeus Capital Partners has joined Creandum Advisor, the Swedish venture firm, in backing Edgeware AB, a Stockholm-based start-up developing scalable and cost efficient high performance servers for on-demand television services.
Edgeware has developed innovative network server equipment, targeting TV services such as time shifted live TV and video-on-demand. Based on a novel video streaming and solid-state content storage architecture, Edgeware’s revolutionary server products rewrite the rules for IPTV service providers in terms of streaming capacity, functionality, service quality and profitability.
Edgeware was founded in 2005 by an exceptionally strong technical team comprising Joachim Roos, whose career began by designing custom chips for the European Space Agency and includes executive roles in a number of semiconductor and networking start up companies; Kalle Henriksson a digital design and video systems expert; and Lukas Holm, a digital design and PCB and Hardware expert.
Amadeus will help to augment the Edgeware team, to develop its operating plan and to open doors to secure first customer trials.
Commenting on the investment, Amadeus Partner Simon Cornwell says: “Edgeware will change the economics of video-on-demand networks, initially for IPTV and in the future for cable TV and the fast-growing mobile market. Beyond this, the Edgeware approach offers blue sky potential in a wide range of storage applications once initial product development and launch is complete later this year. The founding team, all of whom have experience in successfully taking technical product to market, are keen to build a world-leading business around their core technology. We are delighted to be able to help in that process.”
“Amadeus is a well-established international investor with an excellent understanding of the IPTV space. Their investment will strengthen our credibility internationally and sends a clear message that we are here to become a dominant supplier of on-demand infrastructure“, says Founder and CEO Joachim Roos.
The legal advisers on the transaction were Vinge (Johan Cederlund).