Celvibe

has raised $2 million at a post-money company value of $34 million from investors from East Asia.

This is the second stage of a financing round begun in January, during which the company raised $8 million at a company valuation of $32 million.

The company is expected raise another $1.5 million in the future, lifting its total take to $12 million.

The money was secured from the Taiwanese investment bank China Development Industrial Bank, which placed $1 million, and strategic investors from East Asia, who invested another $1 million.

Investors in the January round included the Etgar fund, Poalim Technologies Fund, Eurofund 2000, and OphirTech.

In March this year the international investment company tecc-IS (AIM:TIS.L) kicked in about $0.5 million.

Although it is publicly traded, tecc-IS is a very young company established in June 2000. It is affiliated with investnent houses in Israel, Europe, the Far East, Latin America and China.

Celvibe fondly expects that recruiting CDIB and the East Asias investors will give it a leg up to the Far East market.

Celvibe develops Multicast technology, to stream live television to large numbers of third-generation wireless devices, such as smart cellphones and PDAs. Its technology enables the broadcaster to stream data to a fluctuating bandwidth. Celvibe was founded in 2000 by CEO Oded Peretz and CTO Eyal Farkash. The company has offices in Netanya, Israel and Russia, and a subsidiary based in Redwood, California. The company employs 50 workers.