More and more cash for the live video space… Ustream, a service that lets users broadcast their own live video, has raised an $11.1 million first round from Doll Capital Management and Band of Angels, reports NewTeeVee. The site has previously raised an unspecified amount from various angels. The site competes against a number of other services in various ways, including Qik, Kyte, Mogulus, all of which have announced fresh rounds relatively recently. Of those Kyte, is the most heavily backed, having raised a lot from mobile operators. One way that Ustream has tried to differentiate itself is through its content—it has really played up coverage of the election, and even claims ex-Presidential candidate Wesley Clark on its advisory board. With the raise, Ustream CEO John Ham told NewTeeVee that it remains committed to organic growth and has no plans to sell out—there had been rumors that Microsoft (NSDQ: MSFT) was poking around for it. Release.

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