Venture capitalist Promod Haque says he has discovered the Google opportunity in the mobile space. He has put in $7.8 million to fund a mobile video search technology called v-tap. This will allow mobile users to search, store and share web videos from any source on the internet. With the number of smartphones increasing in India, video is expected to the future of the mobile internet.

“This technology meets the consumer need completely by making multimedia services offered on the net available on mobile phones,” Promod Haque, managing partner, Norwest Venture Partners, said.

Not unduly concerned about poor network connectivity in the country Promod says mobile internet in India is gaining traction despite the network constraints. Just as mobile email usage has now become a habit, mobile web video applications will also see a similar demand, he added.

V-tap has been designed by Bangalore-based Veveo founded by Murali Aaramudan. This application has been successfully tested in the US and European markets due to the advanced networks available there.

“We see India to be a large market for us, going by the sheer volume of mobile subscribers here. And as V-tap can successfully work on GPRS and existing networks, 3G rolling out only next year is also not a constraint. Even the question of storage of videos can be resolved with higher-end phones, Murali Aravamudan, Founder & CEO, Veveo, said.

Eyeing this opportunity, Pramod Haque’s Norwest Venture Partners is funding a mobile web video search engine called V-tap with $7.8 million initial funding.

V-tap will be available on Motorola and Sony Ericsson phones as a pre-loaded offering and Veveo is talking to mobile operators like Airtel, Vodafone and Reliance to boost distribution. So the next time, think twice before logging onto to the net to search for a video; it might already be available on your mobile phone.

Source: UTVi