Sky Invests $2M in Consumer Electronics Startup Caavo

The Hollywood Reporter

European pay TV giant Sky has invested $2 million in Caavo, a U.S.-based consumer electronics startup in its latest bet on early-stage companies.

The investment gives Sky, which operates in the U.K., Ireland, Germany, Austria and Italy, a minority stake in the company, which on its website calls itself "the missing link between your TV and you."

Caavo was founded in 2015 by Andrew Einaudi, Ashish Aggarwal, Vinod Gopinath and late Sling Media co-founder Blake Krikorian with the goal to "dramatically improve the in-home entertainment experience for consumers by offering easy-to-use and beautifully designed products."

Caavo hasn't detailed its product plans beyond signaling that they are in-home TV-related.

Sky's recent investments include video platform Molotov, The Drone Racing League and e-sports channel owner Ginx TV; 21st Century Fox owns a 39 percent stake in Sky.

Read more: Sky Invests $1M in Drone Racing League