Pando Networks Ltd. Raises $8 Million in Venture Capital Investment

Pando, a world leading start up company in Efficient, secure and commercially viable rich media delivery, recently announced that the company has raised over $8 Million in Venture Capital funding.

The company’s end goal according to reporters is “to establish a new Internet infrastructure standard for efficient, secure, and commercially viable rich media delivery.”

According to a recent report, the Israel based P2P (peer to peer) start-up Pando Networks Ltd. is seeking to raise $21 million. The company announced recently the first closing of the financing round, in which it raised $8.1 million.

The $19 Million in financing that the company has raised to date, including the primary closing of the current round, was raised from leading Venture Capital firms: Wheatley Partners, BRM Capital, and Intel Capital.

Pando’s P2P software enables users to download and share large media files at high quality. The company has set an ambitious goal: “to establish a new Internet infrastructure standard for efficient, secure and commercially viable rich media delivery.” The company’s co-founder and CMO added, “Current Internet protocols need to be re-thought and re-defined to accommodate our insatiable demand for rich media, particularly high quality video online.”

Pando is based in Israel and New York and was founded in 2006 by a team of entrepreneurs; Pando Networks is the CEO Robert Levitan’s fourth start-up. CTO Laird Popkin and CMO Yaron Samid, who had previously founded companies in BRM’s portfolio. Popkin previously served as director of digital technology for Warner Music Group and as CTO of 3Path.

Recently, Pando Networks has announced an agreement with NBC Universal to provide video delivery services for the new NBC Direct service. NBC Direct will offer free high-resolution downloads of programs across the NBC prime time line up. Pando undertook not only to transfer the content, but to protect the copyright by using encryption and other tools.

Pando Networks is a small company on a big mission; to establish a new Internet infrastructure standard for efficient, secure and commercially viable rich media delivery. Our passionate staff loves new media and shares the belief that current Internet protocols need to be re-thought and re-defined to accommodate our insatiable demand for rich media, particularly high quality video online. We have the expertise to do something about it.

For more information, please visit www.pando.com