Belgian Streaming Media Startup Gets Funding

StreamCase, a Ghent, Belgium-based company specializing in streaming media solutions, has completed its first capital round for institutional investors, resulting in a capital increase of 1 million euros, or about $936,000. The money was invested by the Belgacom Multimedia Ventures venture capital fund, which has acquired a 20 percent stake in StreamCase. The other 80 percent of the shares will remain in the hands of the partners/founders, and the employees.

"Owing to this capital increase we now have the resources for the further development of our product, a platform for streaming media services, and for attracting the manpower needed for our further growth," said managing partner Luc De Clerck.

The BMV venture capital fund was established to support companies operating in the information and communications technology industry. "We are impressed with the dynamic start of this company. StreamCase has a strong management team with ample Internet experience and a proven entrepreneurial spirit, and the initial projects of this start-up show excellent quality," said BMV chief executive officer Jean Gabriel. "Their activities perfectly connect with Belgacom's multimedia and broadband services and naturally blend in with our total range of services."