Israeli Pixellot raises 3M$ from Chinese giant Baidu- it’s first ever direct INVESTMENT in an Israeli company.
As reported on Globes, Pixellot, which provides a unique high-quality and affordable alternative to traditional video capture and production processes, opening the way to a new era in sports and music video production, has raised $5.3 million to date with previous investos including the TheTime incubator and the founders.
“We’re very enthusiastic about bringing Pixellot’s ground-breaking technology to Chinese Internet users. For the first time, video content producers can broadcast concerts, sports, and stage events and enable the audience to watch streaming video with total freedom to choose camera angles in real time on their devices. “We think this will revolutionize video content production,” said Senior Director of Baidu Corporate Development Peter Fang.
“We are truly excited to kick off this partnership with Baidu as a strategic investor, which will enable us to grow globally and bring us into the Chinese market. We are both honored and proud to become Baidu’s first INVESTMENT in an Israeli company. With this capital inflow, we plan to invest in further expanding our R&D and advancing our global marketing and business development platform,” said Dr. Tamir, the co-founder.
The current investment is Baidu’s first in an Israeli start-up, but not its first in the Israeli start-up sector. Baidu was among the INVESTORSin Carmel Ventures’ fourth fund, which recently finished raising $194 million.