German Social TV Startup wywy Secures €2.5M Euro in Funding

written by: Richard Kastelein

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Munich-based company wywy successfully secured € 2.5 million in fresh capital last week and with fresh financial resources provided by Cipio Partners and other investors, wywy aims to establish itself as the market leader in social TV in Germany.

wywy recently acquired the majority of shares in Cipio's  portfolio company Idioma Ltd, based in Israel, which specializes in broadcast TV monitoring and automatic detection technologies - an acquisition that ensures that wywy can attain a high quality technology base in the company's development of social TV applications and other new technologies which they hope will positioni wywy as a leading innovator. Idioma's products utilise audio fingerprinting in order to detect which channel a viewer is watching in real-time which paves the way for countless services and formats that will mold future TV viewing into an interactive experience. wywy's service is set to go live in Germany and other European countries with over 30 channels this summer.

"Based on intensive market research, I am convinced that wywy is perfectly positioned to become the leader in the growing market of interactive television with the help of the acquired technology", states Munich-based entrepreneur Tobias Schmidt, investment partner at wywy. Schmidt has filled the role as an angel investor for several start-ups in the past.

Werner Dreesbach, Managing Partner at Cipio Partners, adds:

"With fresh capital and the leading global technology from Idioma, wywy is perfectly positioned to play a significant role in the emerging market of social TV."

Behavioural patterns in media usage have recently seen a strong shift towards second-screen applications. At present, 49% of TV viewers use a second-screen to engage with online communities while watching television.

Referring to the possibilities of social TV, Dr. Andreas Schroeter, Managing Director and Co-Founder of wywy, states:

"The way in which viewers watch television has seen little change in the last century. In the next few years TV viewing will undergo massive changes, particularly in the field of interactivity." wywy's declared goal is to take an active and leading role in this development.

wywy specializes in synchronized broadcast detection and interactivity solutions. wywy's technology synchronizes accompanying TV applications in real-time with the actual live broadcast. This creates new possibilities for interactive TV in the growing market of second-screen applications. In the future, viewers will be able to obtain additional information with just a few taps on their smartphone or tablet, share information about broadcasts and instantly purchase products seen on TV.

 

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