Canadian e-reading service provider Kobo Inc said on Tuesday it closed a C$50 million ($53 million) investment round aimed at speeding up expansion and new product development.
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Kobo said last week that it plans to launch local content stores in Germany and Spain from May, followed by stores for France, Italy and the Netherlands in the summer that offer eBooks, newspapers and magazines.
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The e-reading service said it has 3.2 million users, with over 1 million added in the past 90 days.
More Info In This Kobo News Release
Numbers: The company says it provides access to over 2.3 million eBooks, newspapers and magazines .
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