Newion invests in 24i Media

24i Media will use the investment to scale up its operations, as the company claims that demand for TV apps is increasing rapidly, and begin expanding into new countries.

The deal marks the eighth investment to be made from the Newion II fund, a €50m venture capital fund that was launched in April 2011 and counts the European Investment Fund, Van Lanschot Participaties and family offices amongst its LP base.

It is Newion's third fund under management and typically invests €500,000–5m in predominantly Benelux-based technology companies. Previous investments of the fund include Vector Fabrics in November 2011; IDES Technologies in January 2012; Reasult Holding in May 2013; and Maps in April 2014.

Company
Founded in 2009, 24i Media is headquartered in Amsterdam with additional offices in Barcelona, Buenos Aires and Los Angeles.

The company develops TV apps that are compatible with smart TVs, game consoles, tablets, mobiles and set-top boxes. Clients include Pathé, HBO and Fox Sports.

The company employs around 26 staff.

People
Martijn van Horssen is the CEO of 24i Media. Frank Claassen is a partner at Newion.

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• Topics
• Benelux
• Technology
• Expansion
• Netherlands