Sky makes Israeli, German investments

European pay TV operator Sky has unveiled plans to expand its operations in Germany and invest US$4m in an Israeli venture capital fund.

Carsten Schmidt

The new Berlin office is designed to provide Sky with a local presence in the city’s start-up scene and allow it to build relationships with new companies and investors in the region. Details of the team have not been revealed, but its remit will extend to scouting for the most relevant companies across Germany and also the Nordics.

Sky is also investing in Remagine Ventures, a newly launched fund based in Tel Aviv that will focus on technology start-ups within tech, entertainment, data and commerce.

The satcaster said the deal would give it “more access into Israel’s dynamic and fast-growing technology companies,” including talent in computer vision and machine learning.

Emma Lloyd, group director of business development and partnerships at Sky, said: “This is an exciting new chapter for us and we can’t wait to get started and uncover new, innovative start-ups across the regions and beyond.”

Carsten Schmidt, CEO of Sky Deutschland, added: “I’m very pleased to be expanding Sky’s activity with the establishment of a new Berlin base for our venture activity.

“I continue to be impressed by the strength of tech talent in Berlin, and ever-growing pool of start-ups bringing new and innovative ideas to the German market and beyond.”