Edge Investments in £2.9m round for TRX

Existing investor Sky Vision, the production and distribution arm of broadcaster Sky, also took part in the round.

TRX will use the fresh capital to invest in the development of its technology and the continued international roll-out of its platform.

According to a statement issued by the investors, the company has more than doubled both the hours of content on its platform and the number of registered buyers since the start of 2018, with the volume of transactions quadrupling since Q1 and the average deal value increasing each month.

Previous funding
Sky Ventures and the Channel 4 Growth Fund invested £5.2m in TRX in 2016, and Edge invested a further £2m in the company in October the following year.

Company
Founded in 2014, London-headquartered TRX is an online licensing platform for TV programme rights. The platform is used by distributors including BBC Studios, Sky Vision, Lionsgate and All3Media. It has around 1,000 registered buyers.

People
Edge Investments – David Glick (CEO).
The RightsXchange – David Frank (executive chairperson); Matthew Frank (CEO).

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• Topics
• Expansion
• UK / Ireland
• Media
• United Kingdom
• Venture