Sky sinks $4m into Elemental

European satcaster Sky has made a US$4m investment in Elemental Technologies, a US-based software company specialising in multiscreen video delivery.

Elemental focuses on video processing and provides software that enables broadcasters and pay TV operators to stream live and on-demand content to laptops, tablets, smart phones and TVs.

Sky already has an existing commercial relationship with Elemental related to its Sky Go service. The investment is part of a broader US$14.5m Series D round of funding led by Telstra, Australia’s largest telecommunications and information services company, with participation from Elemental’s existing investors.

Emma Lloyd, Sky’s director of corporate business development and start-up investments, said: “Internet-delivered video is fundamental to Sky’s business and will continue to grow in importance as more and more customers access content across multiple screens and devices.

“By investing in Elemental, we not only strengthen our existing commercial partnership, but we have the opportunity to share perspectives and insight into how the combination of new technologies and changing customer demands will shape the video landscape of the future.”

In addition, Sky will have strategic access to the Elemental leadership team, which it says will help it inform its long-term understanding and insight into future OTT developments.

Sky, which recently took control of its sister operations in Italy and Germany, has made a string of investments in technology firms in Europe and the US over the last 12 months.

In November it ploughed a further US$1m into video aggregator Pluto.TV having invested half that amount earlier in the year.

It has also invested in ad-focused Sharethrough, internet TV firm Roku and video reality company Jaunt.

Sky also put US$7m into US-based online network Whistle Sports earlier this year and will work with the start-up to create content aimed at younger sports fans.