Belmont, Calif. - "Building B," a start-up that is developing a set-top box that will deliver an on-demand video entertainment platform and service, announced on Monday that it has raised $17.5 million in its first round of venture capital financing.

Participants included Morgenthaler Ventures, Omni Capital, Index Ventures and private investors.

The Belmont, Calif.-based company, which was founded by Buno Pati and former Sony Corporation of America CTO Phil Wiser, also announced the addition of several new additions to its board, including Andy Lack, chairman of Sony BMG Music Entertainment.

The company plans to incorporate some form of wireless delivery to its set-top box, which will integrate standard and HDTV, on-demand premium content and Internet video.

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