Monday, January 7, 2008

Motorola inks deal with Veveo for mobile video

Veveo Inc., a maker of mobile video-delivery platforms and technologies based in Andover, reports it has landed a new licensing agreement with Motorola Inc. for its vTap web video application.

Through the licensing agreement, Motorola will have the option to pre-install vTap software on new Motorola multimedia handsets, beginning with the new MOTO Z10 video-enabled device.

The application is a free web video discovery application that enables users to search and view hundreds of millions of web videos from their mobile phones using existing data services. Users also have the opportunity to share videos by using a short messaging service (SMS).

Veveo was co-founded in 2004 by Murali Aravamudan, a founder of Tewksbury's Winphoria Networks Inc. -- which itself was sold to Motorola in 2003 for $172 million -- and by Ajit Rajasekharan, the founder of electronic publishing outlet Readia LLC in New York.

The company is backed by $14 million in private funding from a group of investors including Matrix Partners, North Bridge Venture Partners and Norwest Ventures.