Magine, the Swedish cloud-based cable operator, today announced that it has closed a $19 million Series A round led be a group of Swedish and international investors.
The company says that it will use this new influx of cash to fund its international expansion, with Germany and Spain being the next countries on its radar. The service is already available in Sweden.
“Magine is not just another TV platform, but a totally new way of accessing and consuming content,” said Magine chairman Michael Werner. “It is a subscription service that was devised to make viewers come back to watching TV and this is why broadcasters and content providers are very keen to adopt the service. Magine helps them create new forms of monetizing whilst respecting the current rights chain.”