The investors included some business angels.

Following the investment, a new chief executive and finance director will join Intellistream. The company focuses on interactive video for mobile phone applications such as participation TV, gaming, video ring tones and video chat.

According to founder and chief technology officer Jani Peltonen, the funding enables Intellistream to build its product, a video platform called Unistream that can be managed on a per-channel basis.

Chairman of LTF David McMeekin says: ‘London is the ideal base for a technology company serving 3G content aggregators. We are delighted to have the opportunity to support this exciting company as it builds the Unistream platform to meet the need for a turnkey solution in this rapidly developing market.’

LTF invests in new technology companies based in London. In September 2006, it led a £900,000 funding round for Dynamic IT Management Services, which supplies software to the foreign exchange sector.