A+E Networks has led a round for the subscription-based streaming service, which raised the funding as it spun out of parent company Simplestream.

Media company A+E Networks led a £5m ($6.4m) round for UK-based video livestreaming service TVPlayer on Monday that also featured existing investors including venture capital firm Beringea.

TVPlayer offers a video streaming service that offers more than 100 channels to subscribers to watch on desktop, mobile, tablets and smart TVs. Those channels cover networks from broadcasters including A+E, Fox, Viacom, Discovery, Eurosport, Sony, Turner, Scripps, ITV, Channel 4 and Five.

The startup is targeting customers who would not otherwise pay…