Streaming Media West, Huntington Beach CA – November 18, 2014 – NGCodec Inc., a pioneer in Next Generation video Codec (compressor-decompressor) technology, announced today that it has received several million dollars in new financing from Belmore Capital.
“We are extremely pleased to be working with investors who see the potential to build a billion dollar company,” said Oliver Gunasekara, CEO & co-founder of NGCodec. “We plan to use the funding to support the company’s growth and hire an additional 30 engineers.”
Neil Belmore, Managing Director of Belmore Capital, added “We are excited about NGCodec’s excellent team of engineers and the emerging global market for H.265/HEVC video compression.”
NGCodec is a startup based in Silicon Valley creating video codec silicon Intellectual Property. The team is focused on the new H.265/HEVC codec. The company was founded in 2012. NGCodec licenses its silicon IP technology to semiconductor manufacturers and OEMs and is still in stealth mode with regards to its future products and services. NGCodec.com
About Belmore Capital
Belmore Capital is a Toronto-based venture capital firm with a presence in Palo Alto CA and an investor in technology and life sciences companies. www.belmorecapital.com