Cisco, AT&T invest $15.5M in Akimbo

Cisco has followed-up on its splashy entrance into the IPTV sector last year by investing in set-top box (STB) maker Akimbo. Cisco and AT&T along with returning investors raised $15.5 million for the IPTV start-up. Akimbo retails a STB for $69.99 plus a monthly fee of $9.99, which allows subscribers to download content from Akimbo's library of 10,000 movies via the users' broadband connections. AT&T's investment is no surprise since the start-up is providing the STB's for the service provider's Homezone service, which is scheduled to launch later this summer.

For more on Akimbo's VC round:
- read this article from CBR Online