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Roku gains $60M in new funding round, working on Smart TV software

updated 10:10 am EDT, Fri May 31, 2013

Working with device OEMs to make Roku software for TVs

Roku has received another injection of investment to develop its streaming set-top box. The $60 million round of funding comes from new investors Fidelity and Hearst Corp, as well as from previous investors such as broadcaster BskyB and News Corp, and brings the total amount of money invested into Roku to $130 million.

The extra funding will go towards getting Roku's software included with new smart TVs as a default operating system, CEO Anthony Wood told All Things D. Wood believes that TV manufacturers will generally avoid making "decent software" for their TVs, and the company is already working with "two dozen OEMs" to do just that.

While it will be pushing its software towards TV manufactuers, it will also be working on producing and distributing the Roku 3 device, as well as the Roku Stick. So far, the company has sold over 5 million Roku players in the US, and is also selling it in Canada, the UK, and the Republic of Ireland; all of which are competitive markets where streaming services have matured and are populated with a range of set-top boxes and game consoles capable of watching shows online.



By Electronista Staff
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