Select-TV raises US$5million investment from Intel and MAVCAPBy John Lim 25 Nov, 2010
Malaysian IPTV company, Select-TV, announced on Friday, Nov 19, that it has raised funds from Intel Capital, Intel’s global investment arm, and Malaysia Venture Capital Management Berhad (MAVCAP).
Spokesperson for Select-TV Elfred Yu said in an e-mail interview with e27 that the total funds raised from both investors was in the range of US$5 million, but declined to elaborate on individual investments, citing investors’ confidentiality terms.
The company was established in 2006 and now operates in nine countries, including Thailand, UAE and The Philippines. The company has 30 people working in the research and development office in Kuala Lumpur, with another 20 employed under the global sales and marketing team.
Yu added that Select-TV has plans in expanding into the South East Asia IPTV market, as well as the Middle East.
“New markets to be explored include China, India and Canada,” Yu added.
The company focuses on delivering IPTV to personal homes and hospitality markets including hotels, hospitals and telecommunication operators.
Select TV is not a prevalent service in Malaysian households however and faces an uphill challenge against national telecommunications service provider Telekom Malaysia, which has been aggressively pushing its own IPTV service by packaging it together with high-speed broadband service UniFi.
The IPTV space in Malaysia is expected to heat up further when YTL Communications – which launched its WiMax service called Yes4G last week – launches its “wireless hybrid television” service by November 2011. The service is said to combine traditional TV, on-demand, and Internet content that will be delivered via its WiMax network.