Belmont, Calif. - Sezmi, the developer of a TV set-top box that will also access Web video, has raised around $28 million of an expected $50 million third round of venture capital financing, PEHub.com reported, citing a regulatory filing.

Morgenthaler Ventures and OmniCapital Group were reportedly among the investors.

Founded in 2007 by former Sony chief technology officer Phil Wiser, Belmont, Calif.-based Sezmi says its set-top will deliver a mix of on-demand traditional TV content, movies and Internet video.

The company recently completed a trial of its service, and its website says it expects to launch commercially in several U.S. markets yet this year.

Sezmi last week laid off about 20 of its 100 employees.

Related Links:
http://www.pehub.com/24393/sezmi-adds-cash-cuts-staff/

http://snipurl.com/6p0wy (Bits blog)

http://www.sezmi.com