Eqvitec Technology Fund III has invested a hefty 26 million Swedish Kronors (about 2.55 million euro) into Voddler, a Swedish startup looking to disrupt the way we watch movies at home. Hadar Cars, a partner of Eqvitec will join the Voddler board with the investment. This is great news for the whole ecosystem as consumer internet had been a little less active in terms of investments in the recent quarters. Also, another sign of this investment for the ecosystem is its size, if there is potential – investors are willing to invest and with Voddler’s 26 million Kronor investment it has been proven.
Voddler has expansion plans for the coming months. They’ve announced that they’ll open up their presence to Norway soon. Eqvitec’s press release also states that Finland and Denmark are on the roadmap for Q1 2010. I’ve managed to check out the service already, as have a lot of other Finns and I think many agree that there’s a lot of potential in it. The model has been proven in so many other verticals that there’s a lot of chances Voddler will get it right too.
Numbers speak for traction as well. Voddler now has more than 400 000 members on board and showed more than 1 million movies. I know I’m willing to pay for this kind of service when there’s half a meter of snow outside and I’d be required to pay two trips to the video store.