Apple’s Planet reels in $10m funding

Jessica Alba is on board Planet of the Apps

A Silicon Valley venture-capital firm has committed US$10m to fund apps that come out of Apple’s first TV show.

Planet of the Apps is being produced by LA-based Propagate Media, the production company formed by Electus founder Ben Silverman and longtime collaborator Howard T Owens, and will explore the world of app creation.

VC firm Lightspeed Venture Partners is committing the funds to support apps resulting from the show, which put out a casting call last month.

The series will be coproduced by Propagate and Apple and executive produced by Silverman, Owens and pop star will.i.am.

Hollywood actor Jessica Alba has also revealed she is joining the show as a mentor. Alba launched baby product firm Honest Co with backing from Lightspeed, which has also invested in Snapchat and TaskRabbit.