American television set-top box maker Boxee has announced it has raised another $US16.5 million in funding, led by Pitango and Softbank.
The new round includes previous investors as well, such as General Catalyst, Spark Capital and Union Square Ventures.
The funding comes after the company raised $US6 million in August 2009, but the company has expanded substantially since then and will need more funds to compete against other set-top boxes including TiVo and the Apple TV.
“We are more hungry and driven than ever. Less naive, but dreaming even more ambitious dreams,” the company said in its blog.
Boxee aims to put its software on a range on different devices, and has already succeeded with the Mac, Windows and Linux platforms.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
