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May 22, 2005

AgileTV has secured a $22 million investment to fund the ongoing development and delivery of its voice recognition system for cable television.

The Promptu voice controlled television remote employs network based voice recognition to allow viewers to search for programmes using spoken instructions.

“The cable industry is very focused on solving the challenge of finding ways to help consumers experience the full array of television programming available today,” said James Caccavo of Valence Capital Management, the New York based private equity firm that led the investment. “AgileTV’s voice navigation service is the solution. We believe the overall opportunity with the cable industry is very promising.”

Lauder Partners, a Silicon Valley-based venture capital firm that has invested in over twenty other cable or interactive TV ventures since 1990, also invested in this funding round.
Originally posted by William Cooper from informitv news, remediated by yatta on May 22, 2005 at 09:38 AM