Titan OS, a Barcelona-based maker of smart TV operating systems, said Wednesday it has raised $46 million in a mix of equity and debt. The funding includes debt facilities from funds and accounts managed by BlackRock, along with participation from existing investors Highland Europe and Mangrove Capital Partners. The startup, which raised $58 million last year, has now brought in $110 million total. Titan OS said it could have opted against raising and grown more slowly, but chose a more ambitious path to add partnerships and enter more geographies.
The company's pitch to TV manufacturers is that its operating system helps them earn more from each set sold, through partnerships with free ad-supported television (FAST) channels and advertising across screens. Titan OS now counts 30 million users, up from 18 million a year earlier. That figure includes its role as a sales partner for TiVo in some regions and for Tubi in the U.K. Since last year it has added Sharp, AOC, Vestel and Skyworth as partners.
Its partnership with Philips has been a success, with the Dutch electronics maker switching to Titan OS and dropping Google TV for its 2026 models. The wider reach gives Titan OS a larger advertiser footprint and stronger audience engagement metrics to offer marketers. Newly appointed CFO Hyoung-Ung Kim said monetizing inventory on the company's own network remains its core business, but that it is moving beyond that. He said the expanded reach drives a flywheel effect that draws in more sales partners and more agencies looking to spend on the platform, whether on owned and operated inventory or through its extensions.
Over the past year Titan OS has grown its headcount to 250 people and opened a London office focused on advertising. It already has offices in Barcelona, Amsterdam and Taipei. With the new funding, the company plans to concentrate on several areas, starting with content discovery. Finding something to watch still takes viewers a long time, and Titan OS is using interface changes and AI to improve discovery while partnering with more content providers such as FAST channels.
Tobias Pfalzgraff, SVP of people and marketing, said Titan OS differs from walled gardens because it has no content offering of its own, unlike Google, which he said steers people toward YouTube. He said the company is impartial in content discovery and is working to cut the time viewers spend searching. Pfalzgraff also said Titan OS is using AI to improve ad recommendation and segmentation. While the company is dominant in Europe, it believes only a few manufacturers build their own operating systems and that more set makers would like to adopt its software, as Philips did.
Titan OS also argues that rising hardware costs tied to AI are pushing manufacturers to think about long-term revenue as device sales slow. Kim said the TV hardware business is not very profitable, which is why manufacturers rely on partners like Titan OS that share revenue after a TV is sold. He said chip prices are climbing further with the AI boom, and that manufacturers have essentially doubled down on the partnership.
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