AirTies secures expansion investment
February 2, 2011
AirTies, Turkey’s wireless home media network vendor, has announced that it has received a ‘multi-million dollar investment’ from US private equity firm, Invus. The investment will be used to help the company to build its sales and marketing presence in Europe as well as to strengthen its technology leadership in the wireless media networking markets with further R&D investment.
The cash injection from Invus, which manages $4 billion of assets worldwide, followed stringent research by the VC firm to find a suitable investment platform in the home media connectivity and networking category. Invus partner Evren Bilimer said, “We had discussions with many companies in the IPTV and home networking space over the last three years, both within Silicon Valley and in many other technology hubs around the world. When we met the AirTies team, we were very impressed by their R&D platform, which in addition to delivering best of class performance, allows AirTies to rapidly localise and customise their technology solutions for different markets. The best demonstration of this was the beaming feedback we heard from operators in five countries working with AirTies rolling out their solutions. They were impressed both by the technology and the partnership spirit with which AirTies has been working with them. We look forward to supporting AirTies in their goal of becoming the leader in the connected home market across the European market and the broader region.”
AirTies CEO Bülent Çelebi commented that he expected the additional funding to help AirTies experience even faster growth in European markets, adding, “Our core focus is on building a leading market presence for our wireless home media networking solutions amongst service providers and via the retail market place, as we anticipate dramatic growth in the ‘connected home’ market. Central to this becoming a reality is the need for reliable, high performance wireless video and the ability to seamlessly connect multiple TV’s, game consoles, tablets and smart phones in the home in a manner which is intuitive and simple, backed up by an effective and efficient 24 x 7 customer service help desk.”