Windsor, UK based start-up VegaStream Ltd has raised 1.2m pound venture capital to develop internet telephony products. The funding comes from UK venture capitalists MTI Partners and the first product offering is due to be unveiled at Networks 98 in June. VegaStream has designed an ISP gateway for internet telephone users based on a router-type hardware platform. This means that instead of having a whole center for managing calls, the function is now on a single hardware module making the provision of internet telephony much cheaper. In addition, VegaStream’s chief executive Mike Hafferty said that his company’s product goes one step further than what is possible using Microsoft Corp’s NetMeeting because it is capable of doing multipoint audio conferencing whereas NetMeeting is a point to point conferencing product. The product will be sold to Internet service providers for around 4,000 pounds for a 30 user license.
