QVIVO Raises $1 Million In Funding

Sites include qvivo.com . Published on October 8th, 2012. Written by Anthony West.

Most forms of cloud storage in today’s marketplace are static at best, and don’t allow for the sort of interactivity that many would like. QVIVO is looking to change that and the Hong Kong-based company is making a bold move to anchor its efforts on media only—specifically, music, movies and TV shows.

QVIVO’s efforts got a major boost recently when it raised $1 million in Series A funding from SingTel Group’s corporate venture capital fund. SingTel was joined by a few other VCs and the money by all accounts comes at the right time for the fledgling start-up. Unlike other cloud storage solutions, QVIVO is media only and users aren’t allowed to upload things like spreadsheets, documents and such like.

For co-founder Liam McCallum this is part of the appeal of QVIVO. He notes that “We are not a general service”; and it’s this USP which the company hopes will make QVIVO a hit among users. The company is also banking heavily on its streaming capabilities which allow users to share their media files with families and friends.

Streaming subscription starts as low as $1.99 a month for web streaming and $2.99 a month for offline and mobile syncing. The cash injection will help heavily to expand and shore up the platforms functionality which according to some early users is very shaky.