Palo Alto, California-based digital media startup Cooliris has raised an undisclosed amount in funding from Docomo Capital, the venture capital arm of Japanese telecom giant NTT Docomo. The investment will strengthen Cooliris’ presence in the Japanese market and accelerate the global penetration of its mobile rich media applications. “With LiveShare in the market and the new Cooliris app coming soon, we hope to accelerate our success and bring more awesome media experiences to Asia and beyond,” Soujanya Bhumkar, Cooliris CEO said in a press release.
DOCOMO Capital officially started its operations in July 2005 and has a committed capital pool of $100 million. The firm works with NTT Docomo’s business and R&D divisions and is in charge of the Japanese telecom major’s investments in mobile communications related startups companies mainly in the US.