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The European Investment Bank (EIB) finances Bitmovin, an innovative developer of video streaming technology, up to 20 million euro. This company that offers video streaming services online, is a world-leader among media services.
Its clients include the BBC, fuboTV, Hulu Japan, RTL and iFlix. The financing will allow Bitmovin to strengthen its research and development (R&D) and product development team in Austria and scale up its distribution network. The EIB financing is supported by the Juncker Plan’s European Fund for Strategic Investments.
As of October 2019, the Juncker Plan had already mobilised €439.4 billion of investment across the EU, including €5.5 billion in Austria, and supported more than one million start-ups and small and medium businesses. Juncker Plan-backed investments have increased EU gross domestic product by 0.9% and added 1.1 million jobs compared to the baseline scenario. By 2022, the Juncker Plan will have increased EU GDP by 1.8% and added 1.7 million jobs.
25 August 2021
