Blacksburg, Va. - NexGenVS, a mobile video technology start-up, said on Friday that it has raised an undisclosed amount of new funding from the Virginia Active Angel Network (VAAN).

That follows $1.25 million in grants and angel funding that the company has received since June.

Blacksburg, Va.-based NexGenVS is the developer of a service and application, both known as Vidrunner, that allow mobile phone users to stream live video to multiple simultaneous viewers on other mobile devices or PCs.

The company said that it will use the new capital, as well as anticipated additional angel funding, to complete and launch its service.

NexGenVS added that it plans to raise a full venture capital round sometime next year.

Related Links:
http://www.vidrunner.com