Israel-based Hola, a video distribution network for publishers, said on Wednesday it raised $17 million in a funding round led by Iris Capital, a strategic partnership between France’s Orange and Publicis Groupe.
Hola’s distribution network aims to increase reliability and speed for video viewing while lowering costs. Hola has raised $30 million to date.
This is Orange’s first investment in Israel since the French telecoms group and Israeli mobile phone operator Partner Communications agreed terms to end their licensing deal following a public row in Israel. Orange said at the time it was still committed to Israel.