Mobile Video Startup Lands $10 Million in Funding

In an attempt to outdo Twitter and other mobile social networking services, Zannel has raised $10 million in financing to continue developing its video-centric messaging platform, reports.

Back in March, Zannel opened up its API (application programming interface), which let third-party developers create rich-media mobile apps, widgets and mashups that can be shared via SMS, MMS and e-mail.

The new financing comes 14 months after Zannel first launched its system, according to the report; the company claims millions of users and partnerships with “numerous big-name digital content providers, as well as carriers,” although none were listed.