Miroma backs SBTV

Miroma Ventures will also consider investing a further £1m in the company in the near future and a second funding round is expected to take place within the next 6-12 months. Miroma Ventures has taken a minority stake in the business.

The funding will be used to begin the process of rolling out SBTV onto mobile platforms, as well as introduce e-commerce and merchandise. The company also plans on using the financing to increase its work force and launch live events.

The transaction sees Miroma Ventures becoming the first venture capital backer of SBTV. Miroma Ventures is a London-based venture capital firm focused on investing in the media and consumer sectors. The firm's portfolio includes popular US-based content-sharing site Pinterest and media barter company Miroma.

Company
Founded in 2006, SBTV is headquartered in London and currently employs eight staff. The company operates a YouTube channel that broadcasts interviews and music videos. The channel currently has more than 360,000 subscribers and close to 190 million views.

People
Jamal Edwards is the founder of SBTV. Marc Boyan is the CEO of Miroma Ventures and has taken a seat on SBTV's board of directors.

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