Kobo said Indigo maintained its controlling position but existing investors, which also includes China's Cheung Kong Holdings, provided C$13m of the total with the rest coming from a group led by an institutional investor.
Toronto-listed retailer Indigo Books & Music’s former subsidiary Kobo, a Canada-based developer of electronic reading devices and applications, has raised C$50m ($53m) from new and existing investors.
Kobo said Indigo maintained its controlling position but existing investors, which also includes China’s Cheung Kong Holdings, provided C$13m of the total with the rest coming from a group led by an institutional investor.
Kobo started its European expansion last week, with the announcement of its plans to launch local content stores in Germany – the largest book market outside of the US – and Spain starting in May 2011. Local stores for France, Italy and the Netherlands will follow this summer, it added.
