EMERYVILLE (WiMAX Day). MobiTV announced last week that it had closed on an additional $30 million investment in its Series C Funding. This second closing introduced Adobe Systems and Hearst Corporation as investors. The second round of more than $100 million also included Oak Investment Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures. According to a press release issued by MobiTV, Dr. Phillip Alvelda, CEO, chairman and co-founder of MobiTV stated that his company will “use these funds to strengthen our current market lead, and to invest in further research and development of new network technology standards such as WiMAX.” MobiTV is regarded as a leader in the provision of broadcast entertainment to handheld devices and is seen as one of the potential leaders for WiMAX entertainment services.