Aereo, which offers a Web-based subscription live TV service, has raised an additional $38 million from private investors, bringing its total funding to $63 million despite pending lawsuits that challenge the service's legality. Aereo, which won a preliminary round in federal court in July, will use the money to expand its service from New York City to 22 more metropolitan markets this year. "The court decision was the green light in our perspective," CEO and founder Chet Kanojia said.

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