Silicon IP developer Imagination Technologies has invested in the first round of funding for a London-based social media software company. AudioBoo aims to do for voice what Twitter did for text, allowing comments to be easy shared between users.
The technology was developed out of Channel 4's attempt to enter the DAB digital radio market in 2008, and radio is a major focus for the company in developing a universal 'social voice' platform that exists across multiple devices and media, including next generation devices that support radio.
Initial funding in March 2009 came from Channel 4's venture arm, 4iP, but the first round brings in Imagination's Pure Digital Radio division, radio company UBC Media and former director general of Oftel Sir Don Cruikshank, as an investor and chairman. The amount of the investment hasn't been disclosed, but UBC as taken an 18% stake and the 4iP seed funding was converted to equity n this round.
Imagination has a history of developing new ventures, from its Pure consumer equipment company that uses its IP in chips from Frontier Silicon, to its Lounge internet radio hub that it has licensed to mobile operators such as Telefonica's O2.
Nick Flaherty has been covering technology and startups since 1990 and is based in Bristol, where he co-founded the SiliconSouthWest network. During that time he has worked for most of the electronics magazines and newspapers in the UK and several in Europe and the US, covering all areas of the industry. He blogs at The Embedded blog www.embeddedblog.blogspot.com and Portable Multimedia www.portablemultimedia.blogspot.com and at www.flaherty.co.uk.
Initial funding in March 2009 came from Channel 4's venture arm, 4iP, but the first round brings in Imagination's Pure Digital Radio division, radio company UBC Media and former director general of Oftel Sir Don Cruikshank, as an investor and chairman. The amount of the investment hasn't been disclosed, but UBC as taken an 18% stake and the 4iP seed funding was converted to equity n this round.
Imagination has a history of developing new ventures, from its Pure consumer equipment company that uses its IP in chips from Frontier Silicon, to its Lounge internet radio hub that it has licensed to mobile operators such as Telefonica's O2.
Nick Flaherty has been covering technology and startups since 1990 and is based in Bristol, where he co-founded the SiliconSouthWest network. During that time he has worked for most of the electronics magazines and newspapers in the UK and several in Europe and the US, covering all areas of the industry. He blogs at The Embedded blog www.embeddedblog.blogspot.com and Portable Multimedia www.portablemultimedia.blogspot.com and at www.flaherty.co.uk.