US internet TV startup Aereo, founded by US media mogul Barry Diller, has raised US$38 million (€29 million) and has plans to expand to 22 cities across the country.
Aereo launched last year with a services offering live broadcasts via the internet of major US networks on a variety of devices for US$12 a month. Aereo allows users to view off air broadcasts via a very small antenna embedded in the device.
Diller’s own IAC led the investment round along with Highland Capital Partners. The service provider previously had raised US$20.5 million in a round led by IAC.
Aereo has attracted hostile attention from US networks, who claim that the service is stealing its signal. The company is currently involved in a litigation battle with a number of broadcasters.
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