Kobo is a Toronto-based eReading service built on open standards offering more than 2.3 million eBooks, magazines and newspapers. The company has developed applications for iPad, iPhone, BlackBerry, Android, Windows and MacOS and distributes content on devices such as the BlackBerry PlayBook. Kobo intends to use the financing to continue its international expansion. It plans to launch local content stores in Germany and Spain starting in May 2011, with France, Italy and the Netherlands to follow in the summer of 2011. Indigo will retain a controlling position following the round. The company recently closed a $50M financing and reported participation from existing shareholders.

Total raised

$50M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2011