Mobile video firm Kyte flies with $21 million cash injection

Mobile video broadcasters Kyte have found themselves on the business end of $21.1 million of investment, led by the likes of Steamboat Ventures and Intellect Capital Ventures, linked with Disney and TeliaSonera respectively.

Kyte’s business model is all about distributing mobile and online video to destinations including phones, social networks and blogs for viral marketing campaigns. It’s currently being used by music industry figures like 50 Cent to distribute video to fans, who can then interact with the content by way of Kyte Player on their PC or, if they’re on a mobile, through the iPhone-optimised Kyte Mobile Web.

If Kyte’s backers are anything to go by – Telefónica, Nokia Growth Partners, DoCoMo Capital and Swisscom to name a few – the company’s video broadcasting will go down well with the operators.