AirTies has picked up a multi-million dollar investment from the US based private equity firm Invus. The Istanbul-based developer of home media networking products says it intends to use the funding to help build its sales and marketing presence in Europe.
“We had discussions with many companies in the IPTV and home networking space over the last three years, both within Silicon Valley and in many other technology hubs around the world,” explained Invus partner Evren Bilimer. “When we met the AirTies team, we were very impressed by their R&D platform, which in addition to delivering best of class performance, allows AirTies to rapidly localise and customise their technology solutions for different markets.” Bilimer said the best indicator had been through talking to operators who had praised both AirTies technology and partnership spirit.
AirTies CEO Bülent Çelebi said he expected the additional funding to help AirTies experience even faster growth in European markets, adding, “Our core focus is on building a leading market presence for our wireless home media networking solutions amongst service providers and via the retail market place, as we anticipate dramatic growth in the ‘connected home’ market. Central to this becoming a reality is the need for reliable, high performance wireless video and the ability to seamlessly connect multiple TV’s, game consoles, tablets and smart phones in the home in a manner which is intuitive and simple, backed up by an effective and efficient 24 x 7 customer service help desk.”
Invus was advised by 3 Seas Capital Partners, Esin Law Firm and PwC. AirTies was advised by Sardis Capital, Yilmaz & Ciner and E&Y.