Handheld video tech firm lands £5m further funding

NEWS Finnish multimedia compression company Hantro has received E8.5m (£5.2m) in funding from leading European investors. The financing round, courtesy of 2M Invest, CapMan, Menire, Nexit Ventures and Startupfactory, is the second for the Oulu-based wireless company. The company received original backing from Menire and Nexit, both investment funds, which allowed Hantro to develop and market its technology. Some of the money received this time will be used for developing new business as well as sales and marketing opportunities. Hantro makes video compression technology for any handheld device. The company specialises in both hardware and software compression coders and its product portfolio also includes video applications for capturing, play-back, messaging and streaming.