Morgan, an international investment company, is backing the launch, which hopes to offer advertisers new ways to target viewers by developing interactive options.
Advertisers that are part of the Zip TV consortium include Honda, COI Communications, Procter & Gamble, BT and Unilever. The advertisers are backing the launch in the hope that they can learn from new developments in the interactive area.
Zip TV will be the first interactive advertising channel and will attempt to develop interactive advertising that links with customer data analysis.
Andrew Howells, managing partner at Zip TV, said: "In light of the current financial climate, we have been especially pleased to have concluded the funding round so quickly. This investment provides the backing required to expand quickly and ensure we maintain our position as a leading force in interactive TV advertising."
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