Akimbo with $15.5m round

Filed in archive Venture Capital on June 27, 2006

Akimbo the company that produces that TV box that works with your internet connection has convinced investors to put another $15.5m into the company:

"AT&T and Cisco, as well as venture capital firm Blueprint Ventures, joined existing investors Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Sprout Group, and Zone Ventures, in a Series C funding round of Akimbo Inc.

AT&T and Cisco, as well as venture capital firm Blueprint Ventures, joined existing investors Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Sprout Group, and Zone Ventures, in a Series C funding round of Akimbo Inc."

Akimbo is an interesting bridging device that is a set-top box powered through an internet connection (oddly enough many users will use a cable internet connection). Two years ago, without Youtube on the horizon this is how content delivery looked like. Akimbo was off to a 'strong coverage' but 'low delivery' start. It got pretty good coverage but had little content to offer and users had issues with their connections blaming it onto the Akimbo machines.

Now there are many more channels and Akimbo may become the new gate keeper in th post-cable world?!