Kobo Closes Series C Financing

Kobo, a Toronto, CA-based global eReading service built on open standards, closed a Series C financing of undisclosed amount.
The round was led by a major institutional investor, with participation from Indigo Books & Music Inc., Kobo’s founding shareholder, which maintains majority ownership.
The company intends to use the funds for product development and international expansion with new distribution partners content and languages.
During its first 14 months, Kobo has built an eReading catalogue with 2.3m eBooks, magazines and newspapers red by customers from over 100 countries. The company has applications for iPad, iPhone, Blackberry, Android, Palm WebOS, Windows, and MacOS.
The Kobo eReader is available at retail outlets including Walmart (US & Canada), Borders (US), Indigo (Canada), Best Buy (Canada), Angus & Robertsons (AU), Whitcoull’s (NZ), WHSMITH (UK), and Swindon (Hong Kong).

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