Digital 5 Secures $8.4 Million Funding Round

Digital 5(TM), a leading provider of
software technologies for connected consumer electronic devices, today
announced the close of its $8.4 million round of financing led by the
venture capital company Blue Chip Venture Company. The round includes
participation from existing investors 3i, Philips Venture Capital Fund BV,
and SpaceVest. Existing investors include Texas Instruments and AVC
Technologies.
"The growth of digital media products in the home is set to explode," said
Tim Schigel, Director, Blue Chip Venture Company. "When we researched the
market for companies leading this revolution Digital 5 was at the top of
this emerging category. Digital 5 has assembled a talented team that has a
proven track record of delivering products to consumers."
The funds will be used to expand technology development, operations, and
sales and marketing efforts. The company has delivered embedded technology
that powers a digital media adapter marketed by Netgear and current
connected DVD players on the market by Gateway, GOVideo, and Oritron. The
company also recently announced a partnership with Apex Digital to deliver a
connected DVD player, and agreements with America Online, Inc., Rhapsody,
and Napster to extend the streaming of content beyond the PC, to next
generation connected consumer electronics devices. Digital 5 and its
partners are enabling consumers to enjoy music, video, and premium content
on any entertainment device in their digital home.
(http://www.digital5.com)