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EGT raises $7.4 M

Tue, 07/01/2003 - 8:00pm
Jeff Baumgartner

Digital video startup EGT Inc. said it raised $7.4 million in a second round of funding led by Sevin Rosen Funds. Also joining the round were Noro-Moseley Partners, H.I.G. Ventures, Gray Ventures, the Yamacraw Seed Capital Fund and "certain angel investors."

EGT, headquartered in Atlanta, makes MPEG-2 digital video encoders designed to distribute high-quality cable and satellite video signals at low bit rates. The company claims its "Media Station" encoder, coupled with its "PicturePerfect" compression engine, improves bandwidth efficiency by 30 percent.

EGT expects to launch its digital video encoder to the cable market this summer. The company said it is currently in beta trials "at the largest system operators."

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