Delaware, US. based peer-to-peer file sharing technology developer Pando Networks announced today that it has raised $4 million from private equity investors BRM Capital and Wheatley Partners. Pando is developing an Internet distribution platform to facilitate the sharing of digital video images and stated that it will use its first financing round to develop next-generation Internet infrastructure and applications.
“We’ve been following the digital media file sharing market for a while and are convinced that this technology is ready for primetime, noted Eli Barkat, BRM Capital’s Managing Director. In Pando, we were impressed by the wealth of experience in the team and the way they’ve designed the most elegant solution to a complex technological problem.”
The Pando team include refugees from Zend, Backweb, iVillage Inc and Flooz.com. Co-founder and CTO Laird Popkin was previously the director of digital technology for Warner Music Group. Lead software architect is Julian Cain, the former head of the aborted Macintosh development for KaZaa at Sharman Networks. Cain also developed Macintosh’s peer-to-peer application XFactor and worked on the Poisoned Mac P2P app which enables Mac users to log on to Kazaa’s FastTrack network.
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