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Welsh broadcaster S4C and Canadian entrepreneur Sir Terry Matthews have invested £9.5m in British IPTV firm Inuk Networks.
The company will use the cash to develop and extend its Freewire triple-play service which is so far available almost solely in student accommodation.
Freewire offers broadband, telephony and broadcast-quality TV channels delivered to PCs, carried over a closed IP-based network. Inuk is the sole IPTV partner of Cable & Wireless.
The investment was made jointly by S4C Digital Media, the Welsh-language broadcaster's commercial arm, and Wesley Clover, the investment firm owned by Sir Terry, a Welsh-Canadian technology entrepreneur.
S4C chief executive Iona Jones said she believes Freewire "has the potential to become a mainstream digital television platform".
Jones added: "This investment represents a coming together of S4C's commercial ambitions and our understanding as a broadcaster of the importance of new methods of delivering content to consumers."
Marcus Liassides, Inuk chief executive, said: "This is an exciting time for Inuk, with our Freewire service already available in over 100,000 student rooms in the UK and growing fast.
"S4C and Wesley Clover are providing the means to allow Inuk to further enhance our technology platform and to continue to redefine the way people watch TV."
