Apps Foundry Raises US$2.4M in Series B Funding

Apps Foundry, an Indonesian developer of an e-reader mobile app, raised S$3m (approximately US$2.4m) in a Series B funding.

Backers included PT Gramedia Digital.

The company intends to use the funds to expand in South-East Asia.

Led by CEO Willson Cuaca, the company offers SCOOP, an interactive app to read local and international magazines, books, tabloids and newspapers on multiple platform.

In December 2011, Apps Foundry, which is headquartered in Singapore, had raised a Series A round from Gobi Partners and Mitsui Global Investments.



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