Barcelona-based Titan OS raises €40 million to develop its smart TV operating system
Titan OS, a Barcelona-based technology, entertainment and advertising company, has announced a €40 million financing round to further develop its smart TV operating system. Existing investors took part, and funds managed by BlackRock provided a credit facility.
Titan OS, a technology, entertainment and advertising company based in Barcelona, Spain, has announced a €40 million (about $46 million) financing round. The money is intended to support further development of its smart TV operating system, the software that runs apps and content on a connected television. The company is positioned as an alternative to established platforms in this field such as Roku.
Who is backing the company
The round included existing investors Highland Europe, a European venture capital firm, and Mangrove Capital Partners, a venture capital investor. In addition, the company secured a credit facility from funds and accounts managed by BlackRock, the asset manager.
What it means
The deal gives the company a mix of equity investment and debt financing to build out its platform. The announcement as available is brief: it does not specify how the funds will be allocated, or which products or markets will be prioritised. It also refers to the company's earlier deals, but those details are not covered in the available text.
